Hi all,
Please be kind my husband is very aware of his short fallings here! My husband had a Ltd company through which he was a training consultant. He only worked for 10 months and the self assessment tax payments are completely frying our heads. He has since wound up his company (well his accountant has) and is back on PAYE through an employed job.
My husband operated in his Ltd company capacity December 24-October 25. His tax due for January 2026 is £12k with a further £4k due in July 2026. His accountant submitted his self assessment for 24-25 and he will submit himself for his self assessment for 25-26. The 50% in advance is what is confusing us, are we to expect a rebate at some point even though we have submitted a deregister for self assessment from his company close date?
I am finding the crossing of tax years so bloody confusing in all of this.