Steve Read
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PAYE, High Earner Child Benefit and Work from home Tax relief
Hi All, I'm a PAYE employee but have to do a self assesment tax return due to claiming child benefit. By the way, I'm no where near a tax expert. This year I have completed the form and I can't work out why I have to pay more tax than the amount child benefit total year amount. I have one child so the child benefit I have to pay back is £1,133 On the claim form, as part of company expenses I enter in £312 due to working from home tax relief. £6 x 52. I also have a gift aid entry which is £36 of tax relief. However, my tax bill at the end of the form is £1,207. I don't understand, with the added tax relief entries added, I'm having to pay back more tax. I appreciate that I have to pay the £1,133 but where has the additional £74 come from? Since I am PAYE, the earned amounts are auto popultated into the form and these are correct based on my P60. Does this indicate that my PAYE tax code isn't correct for the tax year 22/23? Any insight or thoughts would be greatly appreciated. Thanks, Steve