Reducing payments on account

Hi, I completed my SATR for 23/24 and this calculated payments on account being due. Since then I have sold my business and only have a future tax liability for capital gains tax on the share disposal - no other income expected in 24/25. Can I reduce my January 25 and July 25 payments on account to £nil and pay the tax on the share disposal by 31 Jan 2026, or should I be paying the value of the CGT in my January 2025 1st payment on account? Many thanks,

Hi
You can only reduce the 2024/25 payments on account to nil if there will be no balance to pay for the 2024/25 tax year. If you calculate that the balance will be less for 2024/25 than the payments on account set up then you can reduce the payments on account accordingly Understand your Self Assessment tax bill

Not HMRC...the payments on account do not account for CGT, which is NEVER payable as part of payments on account (illustrated as if you had a CGT liability in the previous year it would not be included in the POA for the following year), IF you will have no INCOME TAX LIABILITY for 24/25 you can reduce the payments on account to nil, the CGT will become payable on its normal date, 31 January 26. IF you think there may be a liability for any other INCOME then the payments on account should consider this, i.e. not be over reduced to risk interest.