Just made a first pass at my 2020/21 Tax Return which ought to be fairly straight forward since it is uncomplicated. However, as far as I can see the HMRC final calculation is incorrect since it fails to properly recognise the savings allowances [both the Starting Rate and Personal Savings Allowance].
Obviously I assume the error is mine in completing the form, rather than HMRC in doing the calculation, because it is such a basic error. However, I've double and triple checked my inputs and I cannot see an error on my part. Nor have I had any difficulty in previous years.
I would be interested to hear if anyone else has encountered a problem with the 2020/21 Self Assessment calculation?
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This cannot be right
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- Lemon Pip
- Posts: 52
- Joined: November 5th, 2016, 10:36 am
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- Lemon Pip
- Posts: 52
- Joined: November 5th, 2016, 10:36 am
- Been thanked: 5 times
Re: This cannot be right
False alarm and as I suspected my misunderstanding not HMRC's. The 'first pass' calculation was in fact correct.
Must go now and don my sackcloth and ashes!
Must go now and don my sackcloth and ashes!
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- Lemon Slice
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Re: This cannot be right
I did my first pass earlier and was confused a little by the "underpaid tax" which both said Zero. Which could have been correct if you took the "wording" to be "included in tax code for 2020/2021". But I owed a small amount from previous year 2019/2020. The "Gateway" shows this but nowhere does it appear on the tax return? Added it in anyway with a note.
I know what you mean by the allowances though. It appears in the section for determining your tax but is not included in the amount used for tax. They also ask about dividends in the forms but that does not appear in the "view calculation"?
Other than that it was easy enough to complete. Liked the inclusion of "state pension" automatically this year, made it a lot easier.
I know what you mean by the allowances though. It appears in the section for determining your tax but is not included in the amount used for tax. They also ask about dividends in the forms but that does not appear in the "view calculation"?
Other than that it was easy enough to complete. Liked the inclusion of "state pension" automatically this year, made it a lot easier.
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