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Posted Mon, 29 Jan 2024 13:41:50 GMT by
Hi, I don't have any other income apart from salaried income and tax has already been deduced by employer on monthly basis. While completing my SA for 2022-23 , I noticed that Total Income Tax due is £1141.20 but my Personal Tax Amount Self Assessment page shows as : Your balance No tax is due at the moment. I am really confused if I have to make this additional tax payment or not. My earnings details as per P60 for 2022-23 are as follows: Pay from all employments £105,688.00 Total income received £105,688.00 Tax Deducted : 29703.60 No other Income or gains. Please help and clarify if I need to pay any additional tax on top and if yes, please confirm the steps to pay. Does it needs to be paid prior to completing / submitting Self Assessment ? Thanks in advance !
Posted Tue, 30 Jan 2024 09:33:58 GMT by maxb
Yes, you do need to pay the tax. Your numbers above all look correct. The page telling you that you have no tax due at the moment is saying that because 2022/23’s tax doesn't come due until the end of tomorrow. The reason you have tax to pay, even though some is deducted automatically, is that as you have earned more than £100k, you incur a reduction to your Personal Allowance - and the PAYE system is not sophisticated enough to adjust for this automatically. The deadline for submitting the return and paying the tax is THE END OF TOMORROW but it doesn't matter which way around you do those two things. You should be able to find bank details on HMRC's website to make a payment, and I think it's linked from the end of the return submission process, too.
Posted Mon, 05 Feb 2024 13:27:05 GMT by HMRC Admin 8
From the figures you've given, it looks like you would be due to pay the £1141.20 quoted.
For every £2 you earn over £100,000, you lose £1 of your tax free allowances.
As you are £5688 over, your allowance will be reduced by around £2844.
With this reduction, £2844 of your income that was charged at 0% will be chargeable at 20%, and £2844 of your income that was charged at 20% will be charged at 40%.
This equates to around the £1141.20 requested.
If this amount is still not showing as present on your Personal Tax Account, or you require a more detailed explanation of your calcualtion, please contact us via:
Self Assessment: general enquiries

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