July 31 second payment

purdyoaten

polymaff wrote: »

Nobody is arguing with that but, if despite his efforts the account still shows a payment due by the 31st on, say, late Wednesday, it'd be easier to pay it rather than start a war with HMRC.

Sorry - have to disagree. See my previous post. There is absolutely no necessity to pay HMRC any more than is due. I have a doctor client who paid £17000 POA in January - her bill is going to be £21000 for the whole year. There is no way that she would be thanking me if I advised her to pay another £17000 and wait for HMRC to process her £13000 refund.

As her agent, I reduced the POA to £10500 each.

I guess we will have to agree to differ on this one!

polymaff

robsoneee wrote: »

I could do that but that first 50% is more than whole amount i should pay for last year. So now they own me some money.

Like I said, give yourself more margin once you are in the Payments on Account system. This time, follow the advice to throw in a reduce payments on account request, monitor the online statement and with luck you'll get a result. If you don't by late Wednesday - it's your decision what to do.

purdyoaten

robsoneee wrote: »

I could do that but that first 50% is more than whole amount i should pay for last year. So now they own me some money.

Exactly - see post 9! And 6!

purdyoaten

polymaff wrote: »

Like I said, give yourself more margin once you are in the Payments on Account system. This time, follow the advice to throw in a reduce payments on account request, monitor the online statement and with luck you'll get a result. If you don't by late Wednesday - it's your decision what to do.

The request to reduce will take precedence. When the return is process the account will be adjusted to reflect what the payments on account should have been and interest paid as appropriate.

polymaff

purdyoaten wrote: »

Sorry - have to disagree. See my previous post. There is absolutely no necessity to pay HMRC any more than is due. I have a doctor client who paid £17000 POA in January - her bill is going to be £21000 for the whole year. There is no way that she would be thanking me if I advised her to pay another £17000 and wait for HMRC to process her £13000 refund.

I guess we will have to agree to differ on this one!

We will. I've had time taken up in just these circumstances - more time than it was worth. Mind for £13k it might be different.

HMRC tell me that they're thinking of re-working PoA, BTW. I wonder if that is down to the extra load they'll get from all of those dividend-extracting directors and gross-receiving savers come 2016/17?

purdyoaten

polymaff wrote: »

We will. I've had time taken up in just these circumstances - more time than it was worth. Mind for £13k it might be different.

HMRC tell me that they're thinking of re-working PoA, BTW. I wonder if that is down to the extra load they'll get from all of those dividend-extracting directors and gross-receiving savers come 2016/17?

You are correct. I am attending a meeting with HMRC next month on that very point. Don't hold your breath!

polymaff

purdyoaten wrote: »

You are correct. I am attending a meeting with HMRC next month on that very point. Don't hold your breath!

I've had the, classic, written response:
"
HMRC are considering the way forward and anticipate publishing further details in due course."

Of course, it is a great way of pulling forward HMRC income - but it'll make an awful lot of upstanding savers default, I reckon.

robsoneee

Ok. thanks guys for your help. I check my account today and looks like i have nothing to pay.
The took money from that first 50%.
Now i still have some leavings. Will HMRC repay those leavings to my account or i have to leave them for future years?

zygurat789

robsoneee wrote: »

Ok. thanks guys for your help. I check my account today and looks like i have nothing to pay.
The took money from that first 50%.
Now i still have some leavings. Will HMRC repay those leavings to my account or i have to leave them for future years?

How did you answer that question on your tax return?

purdyoaten

Has anyone ever answered anything other than 'Yes' to the question on the return:

'Would you like to claim a repayment if you have paid too much tax?'