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taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5836
Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
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I am full time employed with a Salary of £86,000 with tax

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Hi There. I am full time employed with a Salary of £86,000 with tax deducted of £22,756. I earned an additional £42,000 in casual work in 2018/19 outside of this employer. What would you calculate my additional tax contributions to be for 2018/19? By my estimation it should be £16,800, however the self assessment portal is giving me a calculation of £21,514.
JA: Which tax year is the deduction for?
Customer: 2018/19
JA: Anything else you want the Accountant to know before I connect you?
Customer: No, that's it thank you

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.
Many thanks

Customer: replied 2 months ago.
Many thanks
Customer: replied 2 months ago.
I'm happy to just stick to chat. I just want to know ballpark if the HMRC calculation is accurate.

Thank you for your patience.

Your total income in the tax year was £128,000.

You lose £1 in personal allowance for every £2 of net income over £100,000.

As the income is more than £23,700 over the threshold of £100,000 you lose all your personal allowance £11,850.

attached is my calculation for your perusal.

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.

Customer: replied 2 months ago.
OK great thank you. I just wanted to make sure it was correct.

Thank you for your reply

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