p21 balancing statement

Looking for a little advice.
I am a PAYE employee and I also submit a form 11 online to show my rental income (currently under the threshold for owing tax). I had a look at the tax calculator linked to this website and found I had overpaid this past year. I requested a balancing statement from revenue but got the following reply. I used to be registered for self assesment as I wasnt PAYE but I am now. Is it as simple as telling them this or have I done something wrong in the way i report my rental income?

Dear Sir,
>
> I acknowledge receipt of your application for a P21 balancing
statement.
>
> According to our records you are registered for income tax self
assessment
> and because of this it is not possible to issue a PAYE balancing
statement.
> However when you complete a return of income form (Form 11) you will
be
> issued with 'a notice of assessment' this is the self assessments
> equivalent of a balancing statement.

If you submitted online you should check the calculator in ROS as this will give you the full breakdown of how your tax was calculated.
As the letter says, you will be issued with a balancing statement (plus any refund you are due) once they have processed your return, which shouldn't take too much longer.

Ok, I guess I just figured since I was declaring rental income seperate to my paye that revenue would miss the fact that i have overpaid on paye. Since form11 doesnt show paye income as well. I guess i just have to have faith.

yankinlk said:

Since form11 doesnt show paye income as well. I guess i just have to have faith.

Click to expand...

Not sure what you mean by this - when you file a Form 11 you should indeed include your PAYE income and any taxes paid on this income.

hmm. Can anyone else confirm? I looked at the form and there did not seem to be any place to enter paye earnings. There was a place for when I was self employed all right - but not paye.

A p21 statement is issued to people who only have paye income. As you have rental income you submitted a form 11 and there is a place on this form to include your paye income. All incomes are put together for tax purposes and your tax is calculated on the total amount. if you submitted a form 11 then you should have received a notice of assessment from the tax office. If you havent you should contact your local tax office - not the paye section.

If you haven't entered your PAYE income it's likely you've underpaid your tax as your rental income (minus allowable expenses and interest) would be taxable at your marginal rate of tax.

cool thanks, doubt i underpaid tho, i recon im still owed cash.

Hopefully, but from the way you've framed your post, you could be in for an unpleasant surprise...