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Posted Wed, 22 Nov 2023 19:10:50 GMT by James F
In the 2022-2023 tax year I earned £30,000 in bonuses, paid in 3 lots of £10,000. As a result my tax code was altered so the extra tax could be collected. On my personal tax account when I look at my PAYE income tax calulation it says "You did not pay enough income tax for a previous tax year, you owe £3733" and "To collect this we have reduced your personal allowance by £8295. This means you will pay more tax until 5th april 2024 so we can collect the £3733 owed". I also received a letter to inform me that I needed to fill out a tax return. On completing the tax return I was informed that I owed to pay £3885 in tax and gave me instructions on how to pay. I am assuming because the tax I owe is already being collected by the change to my max code that I don't need to pay the £3885 bill but wanted to confirm this by posting here.
Posted Tue, 28 Nov 2023 09:10:50 GMT by HMRC Admin 19
Hi,

If your tax code has been amended to collect an underpayment from a previous tax year and you have also completed a Self Assessment tax return for the same tax year then you would need to contact our Self Assessment team to review the code.

Self Assessment: general enquiries

Thank you.

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