Katie Mills

My employer pays the cost of my Visa benefit which makes up a large part of my PllD benefit. My employer as grosses up to make a payment to me to settle the tax on my self-assessment. The amount once reported to HMRC includes the benefit and I receive a K tax. Next year in April I am adding the benefit to estimated income to start paying early. When the PllD is sent to HMRC in July I am assuming I will receive another K tax; however I am already estimating this and the K tax shouldn’t be applied . Do I call HMRC to tell them it will be incorrect and to revert back to my previous tax code with the benefit estimate already there?

I am going to have a tax liability for the 2023-24 assessment year because of additional tax on a US 401k distribution (foreign tax relief credit is applied) but i have to pay the remaining tax liability through the self-assessment. I will owe have a self-assessment tax bill because of this pushing my income into a new tax bracket. This will not happen next year and was a one time payment for the pension. Also, my employer pays the tax on a P11D benefit; however, the amount is grossed up and a payment is given to me so I can pay the tax liability when my self-assessment is settled. I am very concerned I will incur a payment on account for 2024-2025. My tax is paid through the PAYE code each month - I work for a company. I've always had more the 80% paid through PAYE and I expect to next year. I won't have any foreign income and I am not even sure i will have a P11D benefit - which is my VISA cost. The amount of tax I paid this year isn't 80% from PAYE, as I had to claim a foreign tax credit and pay the difference on the foreign income, and I have to remit the amount my employer gave me in a one off payment for the P11D visa cost tax when I pay the self-assessment liability. I am a high earner - my tax is paid through PAYE and I should not have a payment on account for any of this as I pay each month at work. Please advise.