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Tax Coding / Self Assessment & P11 Question

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Fiery125 | 17:27 Sat 23rd Jan 2010 | Personal Finance
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Will try and make this as simple as possible

1. I am employed

2. I own a Buy to Let property

3. I have an employer loan which is classed as a benefit in kind

4. My P11D for 2008-2009 has the figure £1492

This £1492 figure has been on my 09/10 PAYE tax coding notice. I then came to complete a Tax Assessment for the my rental income and it asks for this figure.

My tax calculation then came back - it showed my pay frm employments, plus my benefits in kind ( £1492 ) and my property income, etc.

My question is:

The tax I am due to pay by the end of Jan 2010 has been calculated using the benefit in kind figure of £1492, but as this has already been inclded in my coding notice for 08/09 - am I not being deducted twice for this?

Tried t make it as simple as possible - sorry if it sounds confusing but I am a bit of an amateur at this.


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The tax coding notice only tells your employer how much tax to take from you under PAYE. Had the benefit in kind figure NOT been included you'd have underpaid tax and would now be faced with a bigger tax bill. As it was included you ought to have paid the correct tax already and that ought to be on your P60 and entered on the return.

The tax liability you have left should only be in effect the tax on the buy-to-let profits (and any additional tax on interest if you are a 40% payer).

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