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Where does £2700 come from?
And 'balancing payment' of £1200?The illustration assumes that your bill was 1800 for the previous year, and this sets your payments on account of 2×900 for the year in question. You've paid those, but everything went better than expected and your actual liability is 3000
3000-1800=1200 to pay to complete your total
1500 is your first payment on account for the next year because its half the 3000 you're expected to owe
1200+1500=2700
gbj_tester
I cant get my head around this.
If by that example, you owe £3000 of tax the 2 payments would surely be of £1500 each.
Where does £2700 come from?
And 'balancing payment' of £1200?
The next 2 payments I understand; £1500 each.
To simplify, can I just pay the whole thing at once in Jan 23 (for 21/22) ?