Tax estimate self employment ending

Banana_Hammock

Hi all, it's been a while since I last used this site and would like some advice if possible from the great minds on here.

I'm soon to finish self employment to go into employed work and finish at the end of this month November, what I'm trying to find out in advance of contact with my accountant which is end of January if anyone could give me an idea on what my final tax bill would be just so I can stop stressing over what figure will arrive.

My tax for the last year was £8000 and i have a £1300 balancing payment to make in Jan as I earned more so to bring it level with my earnings so total tax would be £9300 for a financial year, so if I'm correct my estimated tax bill for this year would also be £9300 split into two payments Jan/Jul of £4650, but, I will only have worked 8 months of the 12 in the financial year as I am finishing as I said end of November (wahey), is the best way to get a ballpark figure to divide the £9300 by 12 (months in a year) then multiply it by 8 (months worked) to get a close idea of what I'm likely to be liable to pay ?

Apologies if it's a daft way to try to work it out but I leave all finances to my accountant as I'm good at my job but never have understood tax etc....

I'd love some input if possible.

Have a great day and wrap up warm.

Thankyou

ACG

Speak to your accountant. The can opt you out of that scheme so that you only pay one tax bill at the end of the tax year.

Mine opted me out of it last year as we knew I was about to go ltd.