One of the more obscure filing deadlines for Self Assessment purposes relates to a claim to have your tax underpaid for a year recovered by an adjustment, an increase, in the PAYE stopped from your salary in a future tax year.
For underpayments year to 5 April 2015, the filing deadline is fast approaching, 30 December 2015.
You will not be able to request this type of settlement if:
- you don’t have enough PAYE income for HMRC to collect it
- you’d pay more than 50% of your PAYE income in tax
- you’d end up paying more than twice as much tax as you normally do
Underpayments that are agreed to be settled in this way for 2014-15 will be adjusted in your code number for 2016-17.
Source: New feed.