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Posted Sat, 21 Sep 2024 13:59:26 GMT by Beth
Hi, I'm filling out my tax return and it is of course asking for two payments on account for the next tax year. I have however been working as PAYE since the end of April and will be for the whole tax year and so my tax has been/will be deducted at source. I don't want to end my self employment as I may return to it in the future, but I will earn nothing from it this tax year. 1. Can I request for my payments be reduced to zero through the SA303 form? 2. Would I say that there would be less or no contributions due, as all the tax I owe would be deducted from source? Thank you!
Posted Mon, 30 Sep 2024 08:40:05 GMT by HMRC Admin 19 Response
Hi,
If your income has changed, then yes, you can submit a SA303 to reduce the payments on account. You would need to estimate your income and check if all your tax would be deducted at source before reducingthe amounts to nil. If you reduce the amounts to nil and there is a balance due once the tax return is processed then the payments on account will be reintroduced to cover the balance and interest can be charged. You can see information on payments on accout here:
Payments on account
Thank you.
Posted Fri, 11 Oct 2024 21:30:20 GMT by Mansehej
Hi, HMRC admin. In my case, I have been working as a PAYE since June and self-employed from April till June. Would this mean that my payments on account for my next tax year could be reduced? If so, while calculating how much to reduce that, do I take into account the earnings I make as a PAYE or do I only take into account the self-employed earnings? Thanks!
Posted Mon, 21 Oct 2024 08:49:22 GMT by HMRC Admin 19 Response
Hi,
If you think your balance for the next tax year will be less than the payments on account then, yes, you can reduce them. You will need to include both your employed and self employed income when you calculate your balance. You can see information on payments on account here:
Payments on account
Thank you.

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