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Posted Tue, 22 Aug 2023 09:38:35 GMT by Jerome
Based on my understanding, my tax code 362T suggests a tax free amount of £3,620, however the self assessment does not consider this in the calculation, resulting in higher tax owed on my part. Does anyone know how can I include this allowance in my self assessment so the calculation is accurate? I assumed under Allowable Expenses but I'm not certain.
Posted Fri, 25 Aug 2023 15:12:50 GMT by HMRC Admin 25
Hi Jerome,
The Self Assessment does not look at your tax code.
It's based on any allowances you claim and expenses or deductions.
If you are not sure why your code was 362T, you will need to contact our Income Tax Team to query the breakdown of the code:
Income Tax: general enquiries
Thank you. 

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