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SELF ASSESSMENT & PAYE..PLEASE HELP!! :)

(5 Posts)
emma16 Tue 16-Apr-13 14:37:57

Thanks for the replies, we were just a little worried about registering for this Self Assessment thing that we would end up having to pay our own tax bill as such next year!! My husband did earn over £50k between January 2013 & April 2013 so we will make sure we fill the form in online & get it sorted asap.

LIZS Mon 15-Apr-13 19:11:11

Tax year just ended so the amount for Jan to March is ok if he was under 50k and some may be clawed back for 50-60k . He needs to register for SA with his tax office, which won't affect PAYE as what has been paid already is taken into account in the calculations, so he can submit either a paper form by end October or online by end of January for tax year to April 2013.

MrAnchovy Mon 15-Apr-13 09:41:30

There's no "if" about it, he MUST register for self assessment becasue he has received child benefit since January 2013 in a tax year where his earnings were over £50,000. He must do this before 6th October.

This doesn't change anything as far as PAYE is concerned.

CogitoErgoSometimes Thu 11-Apr-13 08:02:58

All registering for self-assessment means is that your DH will submit a tax return once a year. HMRC section on Self Assessment worth a read.

If he is currently taxed through PAYE that will not change. When he gets his P60 (and P11D if applicable) in the next couple of months he should use that as the starting point for the 2012/13 tax year return together with other documents. If he wants to submit the return online he should apply to HMRC for a login and password. I use a piece of software called TaxCalc which makes the whole process very simple. Recommend it.

Regarding CB. Quoting from the HMRC site "you only need to pay the tax charge from 7 January 2013 until the date the payments stop". They offer an online calculator here

emma16 Wed 10-Apr-13 21:44:37

Due to the child benefit changes and my husbands income we're at a bit of a loss as to what to do. We claimed CB for Jan, Feb and Mar of this year as we knew DH's income for that tax year would be in between £50k and £60k and that we would be entitled to keep some of it. From April we have stopped receiving CB as we know his gross income for this new tax year will top £60k.
But how do we sort out what we can keep for the 3 months? If DH registers for self assessment will his company monthly salary stop being PAYE? That would become a huge mess about every month and a whole load of hassle
At the minute we've just banked the 3 months worth of CB and don't really know the best way to sort out what we can keep. Help would be very much appreciated

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