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Tax return box 18.2

18.2: Tax underpaid in previous year collected through this years tax code.

I normally have the tax from my business collected through PAYE in the day job.

On previous tax returns I filled that amount into box 18.2. This year I didn't and they seem to be demanding a huge payment this month (equivalent to a year and a halfs worth of tax on the self employment).

Which is the correct way to fill in 18.2? And if it was incorrect in previous years would that mean I have overpaid or underpaid (or correctly paid) tax in previous years?

PS according to a document on the HMRC website their system checks that box automatically for online filed returns. Hmmm.

Reply to
Mike Sutton
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If it was incorrect in previous years it would mean that you have either overpaid or underpaid depending on which was the error was!

You won't be able to have it collected through your tax code if you haven't filed your tax return by 30 December 2007 and the tax for

2006-2007 still due was more than £2,000.

Do you have a link to the document?

Reply to
PeterSaxton

If it was incorrect in previous years it would mean that you have either overpaid or underpaid depending on which was the error was! < One or other is wrong, but I have no idea which.

You won't be able to have it collected through your tax code if you haven't filed your tax return by 30 December 2007 and the tax for

2006-2007 still due was more than 2,000. <

The return was filed online in September. Is that 2000 limit new? I've had over 3500 collected through PAYE in previous years.

Do you have a link to the document? < Sorry, it came up under a google search on the HMRC website when I was trying to find out exactly how to use box 18.2 and I didn't keep a record.

Reply to
Mike Sutton

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