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Increased opportunity to pay your Self Assessment through your PAYE tax code

Payroll, Personal Tax, Tax/VAT Cases l

article-2284938-17AE137D000005DC-727_296x224HMRC are increasing the limit of £3,000 for underpayments which can be collected by way of adjustment to the taxpayer’s tax code but only where the main source of PAYE income is £30,000 or more.

Any tax deductions from PAYE income will be limited to a legislative 50 per cent overriding limit.

Collection of tax by this method continues to only be an option if the relevant Tax Return is submitted by 31 December after the tax year end.