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First payment on account for 2024-25

Answer
C.123
Posted Sat, 19 Oct 2024 17:10:54 GMT by C.123
In the calculation section, I see there's the first payment on account for 2024-25. It is 50% of the current tax amount. Is this pre paid tax for the next year so we can claim it back or how does this work? Why we have to pay extra for the next year?
Answer
HMRC Admin 18 Response
Posted Wed, 23 Oct 2024 21:51:58 GMT by HMRC Admin 18 Response
Hi,

You can find the explanation for Payments on Account here -

Understand your Self Assessment tax bill

Thank you.

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