Can someone help me please as I really don't understand the self assessment tax stuff having never had to do it before!
I'm now earning over £50k and need to fill in the self assessment form as I'm still getting child benefit. I work in the public sector and am PAYE. The calculation for the years tax is saying I owe two lots of over £4k each and dates when it will be taken however if I'm PAYE I'm already paying the tax so why would I have to pay 2 lump sums? Or am I being stupid and the tax office recalculates it once the return is submitted?