Am helping someone by checking their TR. Logged on to their user name etc.
The tax for 14/15 is, suspiciously!, £2,993.
I/we have "entered YES" so that this is collected via 16/17 PAYE.
But one runs the Tax calc it says £2,993 to pay Jan 16. I have tried to fudge the numbers to see if any different but same result won't be coded out.
When I view the TR (which doesn't look much like a TR to me!!!) - the HMRC software version I mean - there is nothing in the section about underpaid tax, ie not even NOT ENTERED.
Any thoughts anyone? Unless someone can offer advice the choice appears to be get my friend to call HMRC which will mean a LONG time on phone as I can't use agent line, or file it myself using proper software?
Thank you
Replies (8)
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The question to ask
how much does the individual earn under PAYE. If the earnings are low then it might not be possible
Owing
It always shows up as owing until approved by HMRC.
Go back after Christmas. Or maybe later.
Risky ?
So you say take a punt and file it (I won't be pushing the buttons.).
Even though software - the calc - says all due Jan 16?
A bit risky for me..
It's 1.66667% of her earnings. And it's just a timing difference, not extra tax.
How much of a risk can it be ?
Maximum underpayment
If there is already an underpayment in next years code number, and the total is £3,000 or more, you will not be able to code out anyway.
Submitting return is not a risk. If you are happy the figures are right you have no choice but to file before 30th December. You then have till April to get next years code right.
I believe coding out is the default position and you have to opt out in order to pay so do as recommended.