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Hey All,
Just a quick, and hopefully short question.
I have just had my first annual review and I don't agree with the calculation. I have just spend a frustrating 20+ min on the phone to the CMS and the end was basically "the figure we used is based on the government data.... "
So I have done a bit of digging and this is where I am.
The figure on my P60 and what HMRC states is out by some £8k P/A I want to challenge this as the amount I have to pay is already crippling. If I can even save a small amount then it would relieve (even only slightly)
I am going to share the figures roughly and how it is calculated. If anybody can point out if I am making a mistake here, or if I should question it further..
My P60 states that my total earnings was xxK for the last tax year.
HMRC states that it was xxk and worked it out as follow:
Salary = xxK
Car Benefit = xK
Total = xxK
I have a company car and do not receive a monthly payment (car allowance). Apologies if I am missing completely obvious, but why do they include a car benefit & medical insurance in my earnings? Surely this is a taxable benefit??
Kindest Regards and thanks in advance!
Chaps just spoke to an accountant who explained why...
[censored] joke
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