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Posted Thu, 02 May 2024 02:31:49 GMT by Yarrow
Hi i have a private pension ,a state pension and a 50% income from a rental property . My income for 23/24 was £24,534.96 private pension plus state pension of £9791. I have paid all my tax for this year through PAYE . The issue is when i complete my self assessment tax return for 23/24 and add in my £7885 income from my rental income the system calculate that i owe £5,675.40 in tax .I dont owe any back tax. Obviously this isnt correct as i have paid all my income tax tax on my pensions ,so should only be owning 20% of the £7,882 rental income. The only figures i have have entered into the self assessment are the pension and rental figures ,can you kindly assist in how best to fill in the form to reflect that only my rental income needs taxing (as i have paid tax on my pensions). Kind Regards
Posted Thu, 09 May 2024 08:16:14 GMT by Yarrow
Hello HMRC ADMIN,could i kindy have a reply please
Posted Fri, 10 May 2024 10:33:21 GMT by HMRC Admin 32 Response
Hi,

If the figures entered in your tax return are in the correct boxes, including tax deducted, the calculation will be correct. You may find that in addition to the tax owed for the tax year, sa 2023 to 2024, you are being asked to make a payment in advance for 2024 to 2025. This is know as a payment on account.
Please have a look at the guidance on payments on account at:

Understand your Self Assessment tax bill

For a more detailed answer to a personal question of this nature, you would need to contact our Self Assesment team.

Self Assessment: general enquiries

Thank you.

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