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Really stupid tax return question

4 replies

ttalloo · 28/01/2011 12:02

I know I should know this, given that this isn't my first tax return Blush, but am I allowed to deduct the advance payment that I made for 2009-10 from the amount due?

OP posts:
Sonners · 28/01/2011 13:36

Yes. You probably made a payment on account in January and July 2010 towards the tax bill so don't forget to take off both, and add whatever you need to pay towards 2010/11.

midnightexpress · 28/01/2011 13:40

Don't they do that calculation for you? I just paid mine and when i log on now it just says that I owe them X amount money in July.

I only do the short form and it's the first year i've had to pay for the upcoming year so still getting it straight in my own head!

ttalloo · 28/01/2011 13:40

Thank you, sonners - I thought so, but I always panic every year and forget.

OP posts:
gillybean2 · 28/01/2011 16:13

Tax Due less payments on account give you the balancing payment which is the tax you need to pay in Hanuary.

Of course you probably also have a Payment on account to make for January too...

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