Steve Roberts
Joined: 5/21/2025
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First Payment on Account is more than my actual tax bill for the year!
Hi, I'm late to paying my 1st payment on account ( 31/1/25 ). My circumstances have changed in 24/25 versus 23/24. I had a tax bill of 22k in 23/25 so I was due to pay 11k in Jan and 11k in July. I've already submitted my self assessment for 24/25 and I owe 5.5k for the year. Obviously if I now paid the overdue 11k I'm going to end up in credit massively. I've submitted a request to reduce the poa down to 2.5k but will this affect just the payment in July and if I pay the 5.5k outright what should I do about the interest charge I've built up?