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Posted Sun, 31 Mar 2024 21:23:28 GMT by Callidus
Hey all, So it’s came to my attention that taxpayers whose only income is taxed under PAYE, and who earn between £100,000 and £150,000, will be removed from self assessment. I will earn around £110,000 this year (exclusively through PAYE), meaning I will no longer be required to fill a self assessment. However, since I lose a portion of my personal allowance this year for being over £100,000, I will have a tax bill to pay over £1000. - How do you pay a tax bill if you’re not expected to file a tax return? Will this be adjusted for automatically in my PAYE after the P60 is released in a few weeks? - If your tax bill is more than £1,000, you generally need to make ‘payments on account’ - these are advance payments towards the following year’s tax bill - so I am wondering if this can be avoided now, since I hope I can keep all my future tax payments within PAYE?
Posted Wed, 10 Apr 2024 11:31:04 GMT by HMRC Admin 5

As you no longer meet Self Assessment criteria then HMRC would review your records at the tax year end. If underpaid you will be issued a calculation and if the underpayment is less than £3000 it will be collected in the next full tax years tax code. 

Thank you
Posted Wed, 10 Apr 2024 13:56:06 GMT by Callidus
Thank you for this response. And should one earn between £100,000 and £150,000 under PAYE and underpay by OVER £3000, what is the necessary procedure then? Cheers.
Posted Mon, 22 Apr 2024 10:35:10 GMT by HMRC Admin 32

If we can't collect your underpayment through your code and you're not a Self Assessment customer, you can pay via Simple Assessment instead. More information on Simple Assessment can be found here.

Pay your Simple Assessment tax bill

Thank you.

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