Self Assessment - Reducing Upfront 2016-2017 tax

shaunjp1986

Hi all, hoping I can find some help on these forums regarding self-assessment.

I've recently filled in my tax return for the tax year ending April 2016. However, I understand that now, an upfront payment must be made for the next years' tax due (ending April 2017).

They have provided me with a figure of £2,400 to pay upfront for the following tax year (ending April 2017). However, in that tax year, I've earned far less than the previous year, so their estimations for me to pay are waaay off.

Does anyone know of a way to have these upfront payments reduced based on actual earnings?

Thanks!

agrinnall

I believe it can be done but it's not an area that I know much about. You would be better posting on the Cutting Tax board.

dancing_star

https://www.gov.uk/understand-self-assessment-bill/payments-on-account

this link explains your payment on account and how to apply to have it reduced. You'll have to hurry up as the deadline for this tax year is 31 January