Please could you help me with a few questions regarding my self assessment form.
1. I have invested £10k into an EIS investment scheme but have only paid about £2000 income tax in the last tax year. When the self assessment forms asks me how much EIS investment I'm claiming, should I enter £6666.66 (therefore giving a tax relief of £2000 at 30%)? And then can I claim the remaining investment of £3333.33 in the next tax year?
2. I entered the student loan repayments deducted by my employer as about £850, but the self assessment calculation shows a student loan repayment charge of £1200. How can this be?
3. Does the extra £150 from question 2 get sent to credit my account at the student loan company? I thought they were two completely seperate organisations?
4. Someone told me that I'm not obliged to declare any student loan information on the self-assessment due to information protection - i.e. my agreement with the student loan company is none of HMRC's business?
5. My P60 has a figure for "Tax deducted" - is this income tax plus national insurance but excluding student loan repayments? - I don't see any reference to national insurance on the self-assessment's detailed tax calculation so how does it know how much is eligible to be paid back for the EIS invesment tax rebate (given that only income tax, and not national insurance, can be claimed back).
Many thank you for your help,