yossarian yossarian
Joined: 4/10/2024
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Tax Code April 2024 does not reflect tax payments already made in prior tax year
During my self assessment for last tax year I had to pay an extra £2,012 for taxes due on rental income. This was collected post Self Assessment submission in Jan, Feb, March payroll deductions. However, I notice my tax code for 2024 still is set to claim £2,012 during 2024/2025 It says on the website "To collect this we have reduced your Personal Allowance by £5,031. This means that you will pay more tax until 5 April 2025, so that we can collect the £2,012 owed." However, this money has already been collected. Is this just a timing issue or do I need to call to get HMRC to change tax code? Thank you -
RE: Updates to tax code
I also have a similar issue. I had 2,000 tax that was collected in the last 3 months of the 2023 tax year ending March 2024. This is now fully paid. However my tax code is still set to show that I still owe the 2,000. Question - is this just a timing issue and the tax code will revert some time this month? Many thanks