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Posted Mon, 09 Jan 2023 12:34:13 GMT by prodigymad
Hi, I am having to pay the HICBC as I got a one-off bonus in 2021 and that tipped me over the threshold, so this is the first time for self-assessment. When I do the online calculator for HICBC it says I owe just over £500 for the charge. However, after the self-assessment has been filled in this then comes to almost £900!! As we as my salary I get private medical care paid by the employer, but I don't get a P11D so I don't know how much the "perk" is. I can see the same monthly amount on both the gross and net sides of my wageslip, do I use this value for S.A.? Also, I get a small amount of interest from savings but they are below the £1000 interest-free threshold. Do these savings need declaring on the assessment, or is that just anything taxable above the threshold? I'm puzzled as to why the calc is so different to the assessment. The insurance and interest would probably only add around £500-£600 pa to the "income" section? Many thanks in advance
Posted Thu, 12 Jan 2023 15:20:00 GMT by HMRC Admin 5
Hi,

You will need to check if the private medical is taxed through payroll, if it is you do not need to include it on the tax return.

If you are unsure that the calculation is correct, submit the return and contact our Self Assessment team after 72 hours and we will be able to view the calculation.

Self Assessment: general enquiries

Thank you.

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