maxb

If you expand the inline help section "Tailor your return 01 - Employee, director, office holder or agency worker", it includes the wording: Do not complete the Employment pages if you: * ... * were a company director but received no payments of any kind or benefits from that directorship * ... If any of the 3 bullets above apply to you, tell us why you are not completing an Employment page in the 'Any other information' box and give the name of the particular directorship you are not submitting a page for. So, happily, for this case, there's clear advice

After however long it takes for HMRC's systems to process the return, I guess... But you don't necessarily need to wait for that - if you are working on or have just submitted a return, and want to know the actual amount you need to pay by 31st January, you can take the 2023/24 balancing payment and first payment on account for the new 2024/25 year (if any) from the return, and manually subtract any credit on your tax account including payments on account for 2023/24. The info about your account can be found under "View account" in the Self Assessment portion of your online account.

I'm no expert, and EIS is complicated, but I've been doing a lot of reading of the online resources to be ready to fill in my own tax returns... I've not come across anything suggesting a validly claimed relief being withdrawn due to future performance of the company AFTER sale of the shares.

It's pretty much a tax code issue by definition, since the purpose of the tax code is to guide the PAYE process into accurately estimating your tax... But of course that's no a very helpful thing to know, to understand what happened. You should look through all of the factors that contribute to your tax code - allowances, other sources of income besides employment, etc. - and compare these to your tax return. Somewhere, there's an allowance or income that is substantially different between the two. You can look up your tax code and why it was given to you using other functions of the same HMRC website as where you complete your tax return. For understanding your tax return, I find the page reached via "View your calculation" then "View or print your full calculation" is the most useful in explaining the result. You mentioned having two jobs - one after the other, or two jobs at once? That would be a complication in which errors could arise. Also, should you have earned more than £100,000 in the year, reduction of your Personal Allowance would occur - that often isn't taken care of via PAYE correctly at first.

All of the information I've come across whilst trying to help my father fill in his tax return suggests everything is worked out in terms of weeks. Also, apparently the day of week is different for different people according to their NI number, according to https://www.gov.uk/state-pension/when-youre-paid

My understanding is that if it's relief at source, it's always box 1. I believe box 3 is for things like the example at https://www.gov.uk/hmrc-internal-manuals/pensions-tax-manual/ptm044240

Ah, right, now this all makes sense. Your employer appears to have followed the procedure for how to pay an additional sum after the issue of a P45, as described from the employer's perspective in the final section of https://www.gov.uk/employee-leaving . If I understand correctly, you have: * A P45 issued for the tax year 2023/24, which you will use to complete a tax return now. * A written confirmation of the gross amount of the redundancy payment and any deductions, paid on or after 6th April 2024, and not included in the P45 amounts. You will use this not for the tax return you are currently working on, but for your next tax return for the tax year 2024/25. The payment in March is not strange - do not think of it as relating to April through June, instead think of it as an immediate one-off payment in exchange for forgoing the notice period - as that is how its timing is treated for tax purposes.

I don't understand why the forum repeatedly destroyed the paragraphs in my long posts above... I won't try again. If you're trying to read them, you might want to copy/paste elsewhere and insert a paragraph break before every sentence starting with "Box". Meanwhile, I've come across a key sentence in HS297 that confirms deducting relief from cost is the intended way to handle it: "In computing the loss, you must reduce the cost of your shares by the amount of any Income Tax relief given and not withdrawn."

I have never come across any process to request such a breakdown. My completely speculative guess is that such information, if it exists, is in some unstructured form that would require a human employee of HMRC to manually process your request. I suggest it is likely to be easier to forget about figuring out where the existing number came from, and instead prepare your own estimate of the total taxable interest you expect to have received by 5th April, and then submit that to HMRC (in the ways suggested by HMRC Admin). Alternatively, if you will be submitting a Self Assessment anyway this year, you might consider it not worth it to try to correct your code sooner, and just rely on the Self Assessment to refund any overpayment.

That's really interesting - I'm old enough to remember helping my parents look things up in a paper copy of Tables A to complete deductions working sheets. I didn't realise quite how much complex rounding went into those tables, to facilitate people doing payroll on paper. Nowadays, hardly anyone does payroll on paper, but all the software maintains all the complicated rounding, to ensure everyone is treated the same regardless of how their payroll is managed. This turns out to mean that PAYE deductions are actually set up to be slightly more generous than actual tax law allows for, allowing small rounding issues to be resolved in the taxpayer's favour throughout the year... And then, at the end of the year, Self Assessment looks back over the entire year, and collects a few pounds of underpaid tax due to the rounding. I guess this goes unnoticed for many people, as often people's reason for needing to complete Self Assessment involves larger amounts being paid or refunded.