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Post Info TOPIC: Protocol on paying Self-Assessment tax up front
QBE Book-Keeping


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Protocol on paying Self-Assessment tax up front
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What is the protocol on paying tax to HMRC for Self-Assessment?

I have a new client who made a profit last year, made a payment of approximately £4k on the 31st January 2013, plus £2k up front for 2012-13 financial year. They also had a notice to pay £2k by the 31st July this year.

I have now looked at their accounts for the financial year ending April 2013 and they have not fared as well this year.

This year the Return is telling me they only owe £ 1,600.

Do I therefore submit their Return and claim back the (approx) £600 difference?

The £2k due on the 31st July will not become due will it?

 

Cheers in advance

 

Rob



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Rob Wilde
Robert Pearce


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Yes, if you submit the 2012/13 tax return, HM Revenue & Customs will refund the overpayment and the 31 July 2013 payment on account won't be payable. 

 

 

 



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Pearce & Co - Chartered Accountant and Chartered Tax Adviser 

www.pearceandcoaccountants.co.uk

These comments are outline only and are not a substitute for specific professional advice.
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