Payment on account

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT member discussion
One of my clients was self-employed but has now incorporated and is on PAYE. Her total income with dividends may take her into higher rate tax and therefore there will be some tax to pay, but I have no idea at this stage how much. It depends how well the business does. Can I reduce her first payment on account to zero for 07/08 or is it better to estimate an amount?

Thanks

Dottie

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Payment on account

    I would estimate an amount.

    It's always nice to be hit with a tax repayment when eventually completing the tax return rather than having to pay extra tax plus interest on over-reduced POAs!

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Payment on account

    Thank you. Your advice is much appreciated!

    Dottie

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