self assessment tax return

[daveh]

The last two years (ie 18-19 and 19-20) I've had to do a tax return as last year I had capital gains to declare. Other than the capital gains last year, there should be no tax due as I'm PAYE (in Scotland), a basic rate tax payer (by paying extra into my work pension), dividends less than £2000 and interest less than £1000 (actually just a couple of hundred both years). Yet in 18-19 the tax calc said I owed £2.33 and this year it says I owe £1.33.
I can't be bothered arguing over a couple of quid, but was wondering why self assessment calculates a small amount of tax to pay yet I've just entered the figures from my P60 which should mean I've paid all the tax due through the PAYE system - why the slight difference?

[Alaric]

I can't be bothered arguing over a couple of quid, but was wondering why self assessment calculates a small amount of tax to pay yet I've just entered the figures from my P60 which should mean I've paid all the tax due through the PAYE system - why the slight difference?

I thin there are some small rounding errors in the PAYE method, the Tax Code being rounded off at ten pounds. If you have a five figure allowance, you get a four figure tax code.

[Gersemi]

I can't be bothered arguing over a couple of quid, but was wondering why self assessment calculates a small amount of tax to pay yet I've just entered the figures from my P60 which should mean I've paid all the tax due through the PAYE system - why the slight difference?

I thin there are some small rounding errors in the PAYE method, the Tax Code being rounded off at ten pounds. If you have a five figure allowance, you get a four figure tax code.

That's right, it's a (slight) disadvantage of filing a self assessment return that these small amounts are charged. Small underpayments are ignored for PAYE taxpayers if they don't need to file a SA.

[daveh]

Thanks for the replies - useful to know that rounding is the reason. I asked at the start of the SA form that they take any tax owed via my code - but maybe I should just pay it. Generally my tax is very simple (I arrange my tax affairs so I don't owe any tax). Last year I had unexpected capital gains that required me to do a tax return. This year no capital gains, though I could have claimed a £600 capital loss to carry forward, but I decided it wasn't worth bothering after the problems I had last year with the capital gains pages.