Week 53

Week 53

Didn't find your answer?

Cant get my head round this.
Client brings in P60.
Code 461L
Gross £17226.12
Tax £2514.01
Calculated underpayment £25.21

This is due to the effect of a 53 week year.
Is it an actual underpayment?
Any adjustment required on SAR.

Alan

Replies (2)

Please login or register to join the discussion.

avatar
By IanRiley
13th Jan 2005 00:40

Yes
Assuming that he has to complete a Self Assessment Return, then yes it is an actual underpayment of tax that is payable.

If he doesn't complete SAR's it will in all likelyhood be ignored by the Tax Office

Thanks (0)
avatar
By Abacjm
14th Jan 2005 03:22

Underpayment
...unless he made either a very small payment to a pension fund through his wages or a tax relievable charitable donation/union dues.
If the above is not the case, this can arise because wk 53 is taxed on a wk1/mth1 basis in isolation.

Thanks (0)