Tax Returns

The difference plus half payment on account for the next tax year surely?

Yes. (I neglected that bit in the question)

Except now it says it will take 72 hours to process, but I need to pay by tomorrow. Bleeurgh.

As far as I know it's that the tax return is a dumb spreadsheet so it doesn't know that you've paid last year's. Once you submit the calculation is done and that takes it into account. Fucking stupid system

GOTITINGOTITINGOTITINYAY!!!

I am shit at tax returns and in fact at life admin in general. This is not quite my latest submission but pretty darn close.

Hah, you and me both...

I’ve done my tax return (I guess??) and it wants me to make a payment tomorrow for predicted income / tax for 2018

Problem is I only worked freelance for 2/3 months in the 2018 tax year earning wayyyy less than 2017. Does anyone know how do I change this so I don’t have to pay anything?

..Do I even understand this aspect of the tax return correctly 🤷‍♂️

it wants me to make a payment tomorrow for predicted income / tax for 2018

If you're talking about your 1st payment on account for 2018/19, you can apply to have those reduced based on predicted earnings being less than 2017/18. You probably should have done that a couple of months ago...
I think at this late stage you basically have to pay what they're asking for to avoid late payment penalties and then see if they will accept nothing in July to bring you back into line with your projection. Get your 2018/19 return in as soon as possible after the end of the tax year if you think you'll end up owing nothing, so that they can send your money back.

Has anyone had this 'Payments On Accounts' glitch in their self assessment?

Yep, years ago. Scrimped and saved to pay the £93k the system said was outstanding, and then ended up paying no tax the next year. Quite why HMRC are unable to take into account payments on account remains an enduring mystery.

Well, another deadline has made that whooooshing sound as it flew past. £100 fine for me then. Again. Ho hum.

Quite why HMRC are unable to take into account payments on account remains an enduring mystery

They do take them into account eventually, it's just that the instant tax calculation at the end of your return filing process doesn't. Presumably there's some verification procedure which takes longer than anybody is prepared to wait while they're sat at the computer.
If you get organised and file nice and early, they send you a properly calculated statement a couple of months before the next payment is due.

They do take them into account eventually, it's just that the instant tax calculation at the end of your return filing process doesn't. Presumably there's some verification procedure which takes longer than anybody is prepared to wait while they're sat at the computer.

I still can't work out why HMRC, who know they've received the payments on account, can't take them into account when doing the instant tax calculation. Well, other than the obvious reason of institutional incompetence.

If you get organised and file nice and early, they send you a properly calculated statement a couple of months before the next payment is due.

Yeah, that's really not ever going to happen!

Scrimped and saved to pay the £93k the system said was outstanding

Boast post

The not having to pay tax for the next year suggests that it was 2xyears worth of tax does it not?

Or that Danstuff then sat on a beach for the following year, of course, in which case even boastier.

The not having to pay tax for the next year suggests that it was 2xyears worth of tax does it not?

But still

The not having to pay tax for the next year suggests that it was 2xyears worth of tax does it not?

It does. And I don't pay tax through the PAYE system being wholly self-employed.

In which case, beach-occupation discounted for now, it's a smaller tax bill than I'd expect from a man of such demonstrated profligacy.

It was a few years ago. And I'm only selectively profligate. In many areas of life I'm amazingly frugal.

And modest, don't forget modest.

The deadline is today, no?

Yeah. Whoooooosh.

ooooh they owe

I was only 12 months behind with expense sheets... caught up last night. #rockstar

Talk about whoosh - completely forgot to pay my corporation tax last May, when I filed it.

I've also got zero money in my company account.

Bugger.

you really like to suffer dont you

https://www.youtube.com/watch?v=7Z1YlhvFkbc

Fecking system is now saying I'm in credit. It can't be right. I'm sure it's not right. I think I will stay pay what I calculate I should pay.

@MCamb When you file the return online it brings up a page asking if you want to have Payments On Account reduced and if so to give your reasons why. If you're unsure, ring them up. It'll be a bit of a wait, but hey ho.