Have a client who is a higher rate tax payer, main income taxed at source but also dividend and interest income.
Some of the interest income has been adjusted in his PAYE code, client would like to settle everything up in Jan 2012 via self assessment. Question: will HMRC adjust his PAYE coding to allow this, or want their take each month?
Thought I would post here before I rang the 'helpline'
thanks in advance
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Tax Code
Unless things have changed recently - you should be able to telephone HMRC and ask them to remove the savings higher rate tax adjustment in the code. It is fine for your client to ask that he pays the additional taxes as a balancing payment in January.