PAYE Tax Return

Dear ALL, I hope you can help, I am currently working on my tax return for 2023-2024 Tax year I lost this employment to take time off in the 2024/2025 Tax year. However, The tax calculation is expecting me to pay tax on the 2024-2025 year even though I submitted the date my employment ceased. Will this be recalculated at a later date to take this into account?

Hi njc23,
Please refer to:
Understand your Self Assessment tax bill
Thank you. 
 

Dear HMRC Thank you for the link, I have noted from the link you can reduce payments on account. In my case I am having a year off so there will not be any tax for this current tax year 24/25 although HMRC thinks there will be. Will I have an option to " reduce payments on account" only once I have submitted my 23/24 tax return? Please note I have added the date of leaving my employment. Once again thanks for your help

Hi,

That is correct, you should be able to reduce your 2024 to 2025 payments on account once you submit your 2023 to 2024 return.

Thank you.

Hello, can you explain how I would do this so I can confidently commence filling my taxes for the 2023-2024 year? It seems I pay half for 2024-2025 on account by January 2025 and the remainder I owe for the 2023-2024 by July 31st 2025, thus I am a little confused. I appreciate and would be grateful if you could clear this up for me. Thank you

Hi njc23,
Once you have filed your 2023/24 Self Assessment if you meet the conditions payments on account will be introduced for the 2024/25 tax year
See;:- Understand your Self Assessment tax bill
If your income for 2024/25 will be lower and you need to adjust the payments on account you can do this online using the link or you can download and submit a from SA303 to do this. 
Thank you.
 

Hi there I was able to reduce my tax but my wife said although she has done hers when she looks at her tax calculations it hasn't changed. Can it take a few days for the tax calculation to be amended?

Hi njc23,
The amendment to the Self Assessment calculation can take up to 3 working days to process.
Thank you.