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Posted Fri, 29 Sep 2023 08:41:14 GMT by
Good morning, For 22-23 my tax code was adjusted so rental income would be taken monthly from my salary, as I thought I'd be earning below 2.5K from rental income. However, it seems I actually earned 1K more than expected...taking me to 3.5K. So I plan to complete a tax return. My question...Do i just file a tax return for the 1K earned (as I have already paid tax on the other 2.5k via tax code) or do I need to pay tax on the full amount and then somehow try to to recoup the tax already paid?? Thanks for your time.
Posted Fri, 06 Oct 2023 09:23:02 GMT by HMRC Admin 25 Response
Hi markyB81
You will declare the total income received.
Having a deduction in your tax code will just reduce the final tax due.
Thank you. 
 

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