cbarrett98 Barrett
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Tax refunded or off-set
Hi there, I am slightly confused about the "tax refunded or off-set" section on my self assessment and whether I need to fill it out or not. I am both self-employed and employed. I work 2 PAYE jobs and for one of them I was paying income tax contributions over the course of the year (came to £299 total). I didn't request it or put in a claim, but over time the amount of tax that I had paid was incrementally paid back to me as shown on my payslips (ranging from £2-120 each month). I don't know if this was because some months my pay was less? So technically, I have had tax refunded/off-set but it has been off-set to £0 so I haven't actually paid any tax on either of my jobs and therefore haven't gained any money from a tax rebate either. The P60s for both of my PAYE jobs show £0 for amount of tax paid for the 23-24 tax year. After filling out my self-employed earnings, my calculation showed that I do owe tax once this value was combined with my PAYE earnings - as I expected and had already calculated. However, if I answered 'yes' to the tax refunded/off-set question it added the £299 to my tax owed total which means I would be paying more tax than I actually owe. The calculation showed the 19% of my taxable income that I need to pay + Class 2 NIC which I am voluntarily paying but then added on the £299 also. Is that right? That seems to me that I would be paying extra tax for what I've actually earned. If I selected 'no' for the tax refunded/off-set question, the calculation showed just the 19% of my taxable income that I need to pay + Class 2 NIC which I am voluntarily paying. Any help on this would be greatly appreciated as I am little unsure of what is best to do in terms of correctly filling out my self assessment. Thanks, Catherine