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  • RE: First payment on account for 2023-24

    Hi I have a similar issue to those in this thread. I had a unexpected large tax bill (due to business going better than expected, with a surge towards the end of the tax financial year!) . I had opted to reduce my payments on account on my previous tax return, to about half of what the tax bill ended up being for 2023-24. My accountant has submitted my tax return, with balancing payment & POA due 31st Jan 25. But I have since received a statement from HMRC, and it has added interest already (not after 31st Jan 25), and they are demanding the balance now..! Is this correct?!! I have always paid in January and July, even when my payments on account weren't quite enough. Are HMRC being sneaky by bringing forward the payments due date on tax underpayments (due to underpayments on account)? Thank you Amanda