Matthew Ashbolt
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RE: Help me understand balancing payments vs payment on account.
i.e. Year 1 tax liability = £6k (tax due is £9k Jan 31, £3k Jul 31) Year 2 tax liability = £8k (tax due = £6k Jan 31, £4k Jul 31) Year 3 tax liability = £6k What would be the tax due in Jan and July based on the above? -
Help me understand balancing payments vs payment on account.
If your tax liability (or earnings) do not change from year to year, does that in essence mean that you will not have a balancing payment on your tax calculation?