Tax question - Self Assessment
Discussion
Quick question for any accountants out there.
I was made redundant in January and so funds are short. I wanted to get my self assessment in as I know I will be owed £££, but my old employer has not provided a P60 yet (nor do I expect them to for months , if at all).
I have my last payslip (Jan) which shows how much I was paid over the employment period along with how much income tax and national insurance was paid.
My question is, on the self assessment form, when it asks for how much tax I have paid over the period, should I just put in the income tax paid, or should I put in income tax + NICS?
The Gov website unhelpfully just states to enter what on the P60 (which I don’t have).
Thanks if you can advise!
I was made redundant in January and so funds are short. I wanted to get my self assessment in as I know I will be owed £££, but my old employer has not provided a P60 yet (nor do I expect them to for months , if at all).
I have my last payslip (Jan) which shows how much I was paid over the employment period along with how much income tax and national insurance was paid.
My question is, on the self assessment form, when it asks for how much tax I have paid over the period, should I just put in the income tax paid, or should I put in income tax + NICS?
The Gov website unhelpfully just states to enter what on the P60 (which I don’t have).
Thanks if you can advise!
Eric Mc said:
P60s nost definitely DO show the National Insurance calculated on a person's annual salary.
In theory, the final payslip of the tax year should show the Gross Salary for the year and the PAYE deducted on that salary for the year. It should also show the PAYE Tax Code used by the employer.
These are the details that need to be entered on the Self Assessment tax return (you don't need to enter any NI details).
Also required are the employer's name and address and your employer's PAYE reference number. These are definitely shown on the P60 and MAY be shown on the payslips (they aren't always).
On what date were you made redundant? If it was before 5 April 2024, the P45 provided to you when you left employment should show all the information you need for your Self Assessment. In fact, if you left the employment before 5 April 2024, your employer may not provide you with a P60 as you were not an employee at the end of the 2023/24 tax year. The P45 is the correct tax document when you have left an employment.
Last day of employment was Jan 9th. No employment since then.In theory, the final payslip of the tax year should show the Gross Salary for the year and the PAYE deducted on that salary for the year. It should also show the PAYE Tax Code used by the employer.
These are the details that need to be entered on the Self Assessment tax return (you don't need to enter any NI details).
Also required are the employer's name and address and your employer's PAYE reference number. These are definitely shown on the P60 and MAY be shown on the payslips (they aren't always).
On what date were you made redundant? If it was before 5 April 2024, the P45 provided to you when you left employment should show all the information you need for your Self Assessment. In fact, if you left the employment before 5 April 2024, your employer may not provide you with a P60 as you were not an employee at the end of the 2023/24 tax year. The P45 is the correct tax document when you have left an employment.
Didn’t get a P45, just a final payslip. I have the PAYE reference number.
I just didn’t know whether to add the income tax paid with the NI l paid or just input the income tax. My self assessment doesn’t auto populate.
There’s a significant difference on tax owed (to me). > 5k if I include NI.
Gassing Station | Jobs & Employment Matters | Top of Page | What's New | My Stuff