Self Assessment 13/14

[BlasterBates]

Yeah, I've been in contact with my accountant so hopefully they would be able to shed some light on this....

Regarding that UK Tax Calculator - should I add up both P45 values both of Total pay to date and run that figure through it and see if the Tax values add up? or run them as two different "elements"

Add them up and enter as one pay to date. The amount of tax should then be the same as in the self-assessment.

[anthony]

Is your total income over £100k? If so, then you'll be losing some or all of your personal allowance, which is something that won't have been factored into your PAYE code.

Alternatively, the second employment may have beggared up your tax by not entering the right info from the first P45 or ignoring it.

Without knowing the numbers, impossible to say.

No it's just under the 100k mark. So worst case scenario would be company b has done a royals dog breakfast on my tax etc. would I still have to pay this tax bill and then reclaim it: or would my accountant be able to "do something"?

[anthony]

Yeah, I've been in contact with my accountant so hopefully they would be able to shed some light on this....

Regarding that UK Tax Calculator - should I add up both P45 values both of Total pay to date and run that figure through it and see if the Tax values add up? or run them as two different "elements"

[philip@wellwoodhoyle]

Is your total income over £100k? If so, then you'll be losing some or all of your personal allowance, which is something that won't have been factored into your PAYE code.

Alternatively, the second employment may have beggared up your tax by not entering the right info from the first P45 or ignoring it.

Without knowing the numbers, impossible to say.

[TykeMerc]

hmm understand; just taken me by surprise the total the calculations are reckoning I owe in tax - being always "employed" and having PAYE/NI etc automatically adjusted/taken for me, and its not a couple hundred, its in the 1k's

Logically I'd agree, it seems unlikely that you would owe a lot if anything, unless either employer made a dogs dinner of your tax.

I'd agree with the others if you can't find the cause then get professional advice they may spot a simple error on the forms or at least identify if an employer did mess up.

[BlasterBates]

Just compare the tax with a tax calculator.

UK Tax Calculator 2015 - Updated for the 2014/2015 Tax Year

If it's significantly different go and see an accountant.

[anthony]

hmm understand; just taken me by surprise the total the calculations are reckoning I owe in tax - being always "employed" and having PAYE/NI etc automatically adjusted/taken for me, and its not a couple hundred, its in the 1k's

[Andrew@Wisteria]

Logic seems to make sense to me, without knowing all the details.

[anthony]

So yes, both employments included. Have you deducted the tax already paid?

So I've taken the figures from the P45s from the fields called "Total Pay in this employment" and "Total tax in this employment" and inputted these into the SA fields "Pay from XXXXX - total from your P45 or P60. Enter the amount before tax taken off:" and "Tax taken off XXXXX pay:"

"Pay from XXXXX - total from your P45 or P60. Enter the amount before tax taken off:" = "Total Pay in this employment"

"Tax taken off XXXXX pay:" = "Total tax in this employment"

I haven't don any other calc other than copy and paste... should I be?

[Andrew@Wisteria]

So yes, both employments included. Have you deducted the tax already paid?

[anthony]

Correct to assume you have had 2 employments, assuming perm/Umbrella jobs started from or after 6 April 2013. Also there may be some dividends to include if you paid yourself this way from the Ltd. More likely that employments would have deducted too much tax, but it really depends on the tax codes used.

So the perm ended in March 14 and started in March 13 and umbrella started March 14 and ended feb 15. Not paid myself via ltd as didn't want to complicate thins even more .

Just seems very strange the amount it's "calculating"

[Andrew@Wisteria]

Correct to assume you have had 2 employments, assuming perm/Umbrella jobs started from or after 6 April 2013. Also there may be some dividends to include if you paid yourself this way from the Ltd. More likely that employments would have deducted too much tax, but it really depends on the tax codes used.

[anthony]

So...

Long story short - forgot to submit my self assessment for 13/14 so got hit with a fine. Fair enough, should have done it.

So finally remembered by details to log in and started to complete the SA.....

Started new perm job in 2013 (Sent them p45 from previous employer)
Left said perm job in 2014 (Received p45 - passed onto umbrella company)
Started with contracting - via umbrella in 2014 (Left Umbrella this year to go LTD - received p45)

So basically in the options I've stated that Ive had two employees over 2013/2014 and inputted the values on the p45s (Total pay to date & total tax to date)[is this correct to say I've had two employees]... on viewing the calculations this is giving me a massive tax bill eek

I am praying very much that I have done something incredibly wrong... Any suggestions/advice would most graciously be welcomed

I have contacted my new accountant so will see what they say - but wouldn't mind your advice/opions (with as little flaming as possible )