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Posted Mon, 08 Apr 2024 07:38:52 GMT by Bigman2023
Hello, I have credited £1100 as payment on account for 2022-23 tax year, half before 31/1/24 and and half before 31/7/24. I have returned my 2023/24 self assessment tax return today (I am not self employed). I note on my HMRC app that it states I am in credit by £550, ie, only half of the payment on account. I also note the first payment on account is described as such, ie, first payment on account, yet second payment is described as 'not used yet'. Should I be worried that the second payment has been mis-described or is this normal? In a couple of days I will find out if the £1100 has been deducted from 2023-24 tax demand, if it hasn't what should I do? Thanks
Posted Wed, 17 Apr 2024 12:02:45 GMT by HMRC Admin 32 Response
Hi,

As you have now submitted your 2023 to 2024 tax return if the balance due is less than the payments on acccount originally set up then the payments on account will be adjusted to cover the actual balance. If you allow 3 working days for the submitted tax return to be processed and payments on account to be adjusted.
Thank you.

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