i wonder if you lot can answer quicker than hmrc who all seem to have gone for lunch

[hatwoman]

if i complete my tax return for 2009-2010 early (ie now) will they adjust the amount i'm due to pay at the end of july - which is worked out on the basis oy my 2008-9 retrurn? ladies, i thank you.

I think so. Our accountant told us last year that they would reduce the amount to be paid on account if I could get my act together in time (I didn't unfortunately)

oh dear island - I'd call that a dead heat with the hmrc helpline - they finally answered! they said that in principle yes - but depends if they can actually process it in time. thanks for answering anyway. looks like it might be wirth trying to get it done (not such a good year 2009-10 - so certainly should be paying less...)

That was like us last year. We had a really good year the year before but a crap year the year after but still had to pay loads upfront.

Sorry, I was at lunch ;)

You don't even need to file your tax return for 2009-10 to reduce your payment on account in July 2010, just fill in an SA303 form, or if you do your Self Assessment online, log in and go to Customer Services -> Request Us -> Reduce your payments on account (note I haven't checked this is exactly right, but it should be close - come back if you have any problems).

IoS or anyone else, if you are in the same situation again, note that there is effectively no deadline for reducing your payments on account - if you apply at any time up to the final date for settlement (so for 2009/10, any time up to January 2011) and tell them you have paid too much, in theory they should send you the difference back, although it is always easier to pay money to the tax man than it is to get him to pay you .

thanks mranchovy - I was vaguely aware that there was something I could fill in, other than my actual return, to reduce the next payment - but my logic was that seeing as I;ve got to do the tax return anyway - maybe it just makes sense to get my bum in gear and do that.