I am just completing my self assessment form for 2022-2023. I do not understand the amounts shown - can someone explain the following example.
If my total tax owed amounts to, say £1500, the first payment duse will show £750.00 by January 2024 with a second payment of £750 showing due in July 2024 . So far, so good. But why is there a figure showing under the heading "Total to be added to Self Assessment account due by 31 January 2024" which is quite a bit higher than the £1500 due according to the tax calculation ???
Can someone explain this simply as I do not know what amount to pay by Jan 31st 2024. Will this "overpayment" ever be credited back to me ??