I am retired but have considerable income from savings I must declare to hmrc.
Having completed my 2022-23 tax return, hmrc give me my bill for 2022-23 and set out two equal payments on account for the 2023- 2024 savings interest - one to be made in Jajuary 2024 and the second in June 2024.
Since I will not know EXACTLY what half my 2023-24 savings interest will be in January 2024, as the banks will not/cannot tell me, how do I make the payments on account for 2023-4 savings interest? Do I
1. Simply make the POAs hmrc have suggested?
2. Make the January 2024 payment as hmrc have suggested and adjust the second payment so that my full 2023-4 savings interest liability is covered?
3. Do I estimate the January POA so that, as far as possible, it equals half my liability on my 2023-4 savings interest and then pay the exact balance in the second POA?
I should add that I am expecting my 2023-4 savings interest liability to be more than my 2022-3 savings interest liability already charged by hmrc.
Thank you for your help.