I was redundant from October 2010 - January 2011. When I started at my new job I gave them the wrong p45 as I was confused - I had one from the job centre and one from my previous employer. I went BR in March 2011 mainly as a result of the redundancy.
When my tax return was done for me for the 2010 / 11 year it was found that I had underpaid my tax and therefore owed money.
My accountant said the following:-
"Assuming that you Tax Code for that year was not adjusted for an underpayment in an earlier year, my calculations indicate that you have under-paid tax amounting to £739.40.
Due to this underpayment, your Tax Return is requesting that this underpayment is to be collected through your PAYE in 2012/13 as indicated in Box 2 on Page TR5 (where there is no “X”.
The reason for your tax underpayment is that you gave your current employers your P45 from your Jobseeker’s allowance claim and not the P45 from xxxxxxxxxx. "
My questions are ....
1. Seeing this underpayment was made in the 2010/2011 period (and I went br at end of March 2011), do I need to repay this money??
2. Should I contact the HMRC and say I don't have to repay it because of the BR?
3. Or should I just leave it and see what they say?
Or just leave until after my AD (If I get it!!) so as not to upset people.
Many thanks for your time
E xx
Finally got head out of sand in October 2010 BR March 2011
Tax Underpayment
Posted - 07 March 2012 : 00:51:26
