maxb

It may be that your tax code is actually correct - the significance of the X suffix is that each weekly/monthly payroll calculation will be done completely independently from the history of what you have already been paid this year, using the appropriate weekly/monthly fraction of your coded allowance. Therefore, it sounds right for the code to be based on the full year amount, because each time it is used to calculate a weekly/monthly deduction, the rules for applying X codes only apply the correct fraction for the current week/month. If you'd been instead given a cumulative (no X) code based on the proportion of state pension you will receive this year, that would tell people paying you according to the tax code that the state pension was paid out evenly throughout the full tax year, rather than for the last 23 weeks - and so make them immediately deduct (52 minus 23) weeks of tax deductions from your next payment. Moving you over to an X suffix code for the year in which your sources of income are changing stops that from happening.

You're assuming that the amount due after Self Assessment is entirely attributable to your income from property - but given what you've said, that sounds like it isn't the case. It's important to bear in mind that tax paid as you earn is sometimes more of a best effort estimate than a correct value, and the Self Assessment goes back over all your tax matters for the year to true things up. If you're doing your tax return on the gov.uk website, try going to "View your calculation" and then "View and print your full calculation" - the full calculation provides detailed information on how the website came up with the number it did. Compare the tax the full calculation deems applicable to your employment income, with the amount of tax already deducted from it (from your P60). There's a good chance you'll find the extra pounds accounted for in a difference there.

I have not yet needed to do this myself, but expect to need to do so in 2024-25, hence why I'm reading this thread... It is indeed frustrating that HMRC do not provide a simple example of filling in the form for the simple case of a personal investor in a few EIS companies. After much googling, my current understanding is that... Box 41 is the total amount of loss you are eligible to claim for. Do not apply any modification based on your marginal tax rate. The clearest supporting evidence for this I have found is the "Tax Calculation summary notes" (SA110 Notes), a document principally intended for people calculating their own tax due without computer support, but it specifically details how box 41 applies to the overall calculation. Box 42 is equal to box 41, according to the SA108 notes, unless you have other things to report besides EIS within the "Unlisted shares and securities" section. Box 32 (disposal proceeds) is defined in the SA108 notes as before relief, so we can be confident we're not supposed to make any modification for the relief here. Box 35 (losses) is defined in the SA108 notes as after any reliefs, so we can be confident the effect of the relief must already have been applied by the time we fill in this box. Box 33 (allowable costs (including purchase price)) is the harder to understand one - I feel it is probably intended that, despite it saying "including purchase price", it wants only the portion of the purchase price which was not already relieved by the 30% relief at time of purchase. This is a *guess*, driven by the use of the word "allowable" in the box name, and that if this was not the case, the formula "proceeds minus (allowable) costs equals loss" would not balance. The following third party site - xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx - that turned up in my googling appears to follow this logic.

I just found https://www.gov.uk/hmrc-internal-manuals/venture-capital-schemes-manual/vcm14140 which confirms it's OK to submit an amended return to include additional EIS claims ... but the deadline for amending returns dealing with 2019 is long past so that still leaves you stuck with the paper claim form.

I'm pretty sure you're stuck using the paper form - https://www.gov.uk/government/publications/enterprise-investment-scheme-income-tax-relief-hs341-self-assessment-helpsheet/hs341-enterprise-investment-scheme-income-tax-relief-2023 says "If you receive the form after you’ve sent your tax return, complete the claim form inside the EIS3 or EIS5 and send it to us." Which unfortunately sucks, as paper forms are so much less convenient :-( I'm currently waiting and hoping my last EIS3 for 2022-23 gets issued before the SA deadline, to avoid this myself.