Very quick question about Payment on Account

RurplePain

Hi, firstly sorry if this is the wrong place to ask this.

I very recently paid my 2017/2018 tax and have two payment on accounts for the next tax year. One to be paid before January 31st 2019 and the other to be paid by July 31st 2019.

My question is this - will I be notified about paying my payment on account when I log in to HMRC digital? Because I've already paid my 2017/2018 tax it currently says "no tax due at the moment" or do I need to make a payment with the first payment on account sum before the January 31st 2019 deadline?

Thank you.

polymaff

You pay according to HMRC's schedule - which you appear to be quoting from*. So, yes, today you owe them nothing - indeed you are in credit as you've paid your 2017/18 early - but you need to pay those PoAs on schedule.


The key document is your Self Assessment Statement, also known as an SA300.

TheCyclingProgrammer

Hmm, I’m sure when I logged in the other day to pay mine the “amount you owe by 31 Jan” total includes both my 17/18 balancing payment and my first POA for 18/19.

RurplePain

Thank you both for the quick replies! What I'm really asking here is can I make a self assessment payment now with the amount of my first payment on account for 2018/2019 or do I need to wait until it updates on my HMRC homepage? It hasn't quite been 7 working days since I paid my 2017/2018 tax, so I was wondering if I can pay it now or have to wait for it to update

Dazed_and_confused

You can pay it now if you want. There are some posts on another website, for accounting professionals, suggesting there are some issues with POA for 2018:19 so you might be best simply paying the correct amount and waiting for your account to be updated in due course.

That way you ensure you don't get hit with an interest charge.

polymaff

RurplePain wrote: »

Thank you both for the quick replies! What I'm really asking here is can I make a self assessment payment now with the amount of my first payment on account for 2018/2019 or do I need to wait until it updates on my HMRC homepage? It hasn't quite been 7 working days since I paid my 2017/2018 tax, so I was wondering if I can pay it now or have to wait for it to update

As I said, pay according to HMRC's schedule. Pay in advance if you want. They'll love you for it - but not pay any interest

RurplePain

Thank you all for the replies!

For some reason, I was under the impression I had to wait to pay my first (and probably second) payments on account until it updates from "Your payments - You have no tax to pay." to "Your payments - You have (number here) tax to pay."

TheCyclingProgrammer

You can pay them both at the same time. The payment will be allocated accordingly.

kellyp

I was about to post the same question and am very confused. I appear to have overpaid tax last year and have some credit on account. Account says no tax due but surely I need to pay the instalments for next year- how do I know how much to pay? Last year they told me!

TheCyclingProgrammer

If you log into your tax account it should say what payments are due and when.

polymaff

kellyp wrote: »

I was about to post the same question and am very confused. I appear to have overpaid tax last year and have some credit on account. Account says no tax due but surely I need to pay the instalments for next year- how do I know how much to pay? Last year they told me!

Same problem - same cure.

You are looking at what you owe this instant. Instead of that, look at your Self Assessment Statement, also known as an SA300.

That will tell you by when, and what, you need to pay.