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  • RE: Self assessment and joint bank accounts

    great thanks
  • RE: Understanding tax payment instructions

    but will I have to pay the "repayment interest rate " or the "late payment interest rate"? If it is the "late payment interest rate" that feels slightly odd given that many of the instalments I make will not actually be late, considering the deadlines of 31st July 2025 and 31st of January 2025?
  • RE: Self assessment and joint bank accounts

    Hi The account pays no interest. however my question was not really to do with Interest paid. I'm wanting to know if I can add my son as a joint name to the account I use to administer the fiances of a flat I rent (so he can hep with administration) without affecting my self assessment? Nothing else will change - The flat is still in my name, etc etc. Thanks
  • RE: Understanding tax payment instructions

    Which interest rate applies to the instalment arrangement?
  • RE: Understanding tax payment instructions

    Hello - this service looks like it charges interest on monthly tax payments. Do you have info on the rates charged?
  • Self assessment and joint bank accounts

    Hello I and retired and have a property that I rent out and thus undertake self assessment and pay tax. I am wondering about my son now maybe helping me out with the day to day runnings of the property. It would help him greatly to do this if I give him full access to the bank account I use to manage the property finances. The bank says that the only way to do this, outside any power of attorney process which I do not want to do currently, would be to change the bank account from being in my sole name to be in both our joint names. Can we do this without there being any HMRC/self assessment/tax implications or changes needed due to the account now being joint? I would still want 100% of the property finances to sit within my affairs and my self assessment/tax workings. Thanks
  • RE: Understanding tax payment instructions

    Hi So £3000 due by the 31st of January 2025 and £1000 is due to be paid by the 31st July 2025? So £4000 would be paid to HMRC by 31st July 2025? If this is correct - would it be possible to 1) spread the £3000 due by the 31st of January 2025 into equal monthly instalments? So with this contrived example it could be £3000 over 6 months = £500 a month? or 2) spread the £4000 due by the 31st of July 2025 into equal monthly instalments? So with this contrived example it could be £4000 over 12 months = £333 a month? Option 2 would be better for us. Thanks
  • RE: Understanding tax payment instructions

    Sorry "1st payment on account for 2024-25 due 31 January 2025 £1,091.10" should read 1st payment on account for 2024-25 due 31 January 2025 £1000"

    Add to SA2350 
  • Understanding tax payment instructions

    Hello I've worked out my self assessment and the final calculation page says (with made up figures but with correct multiples): "Estimated payment due by 31 January 2025 You must pay the total of any tax and class 4 NIC due for 2023-24 plus first payment on account due for 2024-25 by 31 January 2025 (Note: 2nd payment of £1000 due 31 July 2025) This amount does not take into account any 2023-24 payments on account you may have already made 2023-24 balancing payment £2000 1st payment on account for 2024-25 due 31 January 2025 £1,091.10 Total due by 31 January 2025 £3000" This is not plain english to me. Please can you explain to me with dates and amounts what I must pay and when? many thanks