Owe too much tax

purdyoaten

zygurat789 wrote: »

So jan & jul 2012 paid on ac £6300
Jan 2013 balancing payment £1230
Total tax paid for 2011/12 £7530
Jan & jul 2013 paid on account £6482
Jan 2014 balancing payment £????? (you haven't said)
Total tax paid for 2012/13 £ You'll have to do the maths.

Have you gone back and read the page with the calculation on it?

Post 19 probably appeared while you were calculating/typing.

catoutthebag

Thank you

1) does the online return not take into
Account poa?

2) can I reverse a debit card payment from 3hours ago? Or the return since its submitted?

3) still a bit confused since I completed this in the same way as last year

catoutthebag

In a real mess. The things submitted & paid. My bank can't reverse it since its pending & I'm still not sure how its calculated wrong ? I did it the same way as lady year.

Should I have pressed yes instead of no somewhere?

I'll have to double check the breakdown when I'm home

Did the even deduct my personal allowance?

If this is wrong can Hmrc allow me to resubmit before 31/1?

zygurat789

catoutthebag wrote: »

Thank you

1) does the online return not take into
Account poa?

2) can I reverse a debit card payment from 3hours ago? Or the return since its submitted?

3) still a bit confused since I completed this in the same way as last year

1. NO just like it says it doesn't
2. Ask your bank but i doubt it
3. That was a year ago and noone can remember everything after a year.

If you look at the start of the on-line process you will find access to "your account" showing your liability and what you have to pay. It is NOT updated instaneously but it will show your overpayment and will say "you have overpaid, do you want to apply for a refund" You can probably take it from there yourself.

Remember the old adage " More haste less speed".

purdyoaten

The ONLY thing that you did wrong was not read the line :

This amount does not take into account any 2012-13 payments on account that you may have aleady made.

You have effectively paid these twice - £6482 overpaid.

Your problem is not with the submission but with the fact that you paid too much. In a few days your tax account will show an overpayment of £6482 and you can request a refund.

catoutthebag

Right. Thank you both.

So, basically I has to manually calculate the first bit myself, and add that figure in which exact section?

I spoke to Hmrc they said I can log back in to amend after 24-48 hrs

My bank said they can apply for me to reverse the payment

BUT if an overpayment shows as you say, I'll just wait and request a refund

Really bloody kicking myself

Blackbeard_of_Perranporth

catoutthebag wrote: »

Really bloody kicking myself

If you took my advise, and paid £250 to an accountant, you probably would save more than the cost

catoutthebag wrote: »

Instead of posting on a secfically dedicated 'cutting tax' forum like dozens of others?

Bless you too

Instead, you over paid and hope you can get your money back. My company and it's tax fairs were sorted las September. And it cost less than te amount I saved.

Good luck next year!

catoutthebag

Blackbeard_of_Perranporth wrote: »

If you took my advise, and paid £250 to an accountant, you probably would save more than the cost


Instead, you over paid and hope you can get your money back. My company and it's tax fairs were sorted las September. And it cost less than te amount I saved.

Good luck next year!

Nah mate

1) I will get my money back, not 'hope'. So you're wrong

2) I've done my own accounts for the last 5 years & made 1 error, so that doesn't justify an accountant, silly

3) I used an accountant once for about £250 & that got me a remotely based 'monkey' of an accountant who didn't help reduce my liability, and was a complete waste of time & money

4) I know what I can & can't claim & manage my own accounts, so a £250 wouldn't magically make me save another £250. The need for an accountant is a myth unless you're so disorganised & can't submit your return on time

5) couldn't get care less how you Manage your affairs

jennifernil

catoutthebag wrote: »

Right. Thank you both.

So, basically I has to manually calculate the first bit myself, and add that figure in which exact section?

I spoke to Hmrc they said I can log back in to amend after 24-48 hrs

My bank said they can apply for me to reverse the payment

BUT if an overpayment shows as you say, I'll just wait and request a refund

Really bloody kicking myself

Nothing to amend, the calculation was probably just fine.

You do not enter your POAs made on the return.

If you are in a hurry to pay, you need to remember the total of the POAs you made for 12/13 and deduct that from the total tax calculated.

Otherwise, you need to wait till your account updates and subtracts the POAs for you, then pay the correct amount.

zygurat789

catoutthebag wrote: »

Nah mate

1) I will get my money back, not 'hope'. So you're wrong

2) I've done my own accounts for the last 5 years & made 1 error, so that doesn't justify an accountant, silly

3) I used an accountant once for about £250 & that got me a remotely based 'monkey' of an accountant who didn't help reduce my liability, and was a complete waste of time & money

4) I know what I can & can't claim & manage my own accounts, so a £250 wouldn't magically make me save another £250. The need for an accountant is a myth unless you're so disorganised & can't submit your return on time

5) couldn't get care less how you Manage your affairs

1 Yes you will but with a load of help
2 One error that you know about. On the strength of the above I would think it's afair bet that there are more.
3. Given your attitude I would say that uou may have been as much to blame as the accountant. Having said that there are, of course good and bad accountants.
4. Again given the above your statements are highly questionable especially as you managed to submit your return a couple of days before the deadline having had the best part of 10 months to do so and then paid, incorrectly, early.
5 we can all learn from others