Payments on account

Poodle

Hi

I knew that the payments on account was to change from the £500 limit to £1,000 next April but I did not realise that this would affect payments on account 31/01/09 and 31/07/09.

or am I wrong?

Poodle

Monsoon

Poodle I didn't think it came into effect for the PoAs next year.
Happy to stand corrected though!

Poodle

Well thats what I thought as well but, I have got 2 clients now where SA came out to £600 and £750 for 07/08 and neither are showing a POA in January 2009. One I took over from another accountant who sumitted the return using HMR&C software and I have a print out of the return made and that calculated the 50% being due but it is not showing on my agent page ,others where the liability is >£1K are showing a POA.

I will contact HMR&C on Monday to investigate unless some one on here can confirm if the £1 limit affects Jan 09.

Poodle

Monsoon

Thanks Poodle, I'd be interested to hear the answer

Poodle

Hi

The increase in the POA limit takes effect April 2009 and since the January 2009 POA relates to that tax year HMR&C have changed all PAO that had been triggered by the early submission of a 2008 tax return with a 2008 liability of between £500-£1000 to 'nil'.

Therefore only the balancing payment for 2008 will due due in January

Poodle