Quick question regarding payment of tax

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Sarah-Lou
Sarah-Lou Registered Posts: 141 Dedicated contributor 🦉
in General accounting discussion
I have a client who's POA have ended up being slightly above the tax liability for the tax year 10/11.

She hasn't received a statement from HMRC for the January payment yet and I'm not quite sure how it works if you are slightly in credit!

Does HMRC minus the credited amount off of the first POA for 11/12 or do they split it between the two POA for 11/12?

Thank you :o)

Sarah-Lou

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  • Bluewednesday
    Bluewednesday Registered Posts: 1,624 Beyond epic contributor 🧙‍♂️
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    They will set it against the first poa so you just need to take the refund off the January POA

    This is all presuming its only being filed now, if it was filed prior to December then they were issuing refunds and the whole poa will be due.
  • Sarah-Lou
    Sarah-Lou Registered Posts: 141 Dedicated contributor 🦉
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    Thank you, it was filed a couple of weeks ago (definately during beginning of January). I'll let my client know :)

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