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payments on account carried forward

MoneyTreeMe
MoneyTreeMe Posts: 55 Forumite
10 Posts
edited 27 January 2021 at 12:28AM in Cutting tax
Hi,
I paid half of this year's tax bill when I paid my 18-19 taxes via self assessment by retrospective payments on account.
I'm about to submit the 19-20 tax form online but see no option to carry those payments on account paid last year to this year... to reduce this year's tax bill.

Advice appreciated. Thank you.

Comments

  • You don't, they form no part of your 2019:20 tax calculation.

    You need to file the return and check your Self Assessment account in a couple of days.

    This will then have been updated to show the Balancing Payment for 2019:20 (if one is required) and any payments on account required for 2020:21.

  • Hi,
    I paid half of this year's tax bill when I paid my 18-19 taxes via self assessment by retrospective payments on account.
    I'm about to submit the 19-20 tax form online but see no option to carry those payments on account paid last year to this year... to reduce this year's tax bill.

    Advice appreciated. Thank you.
    Your tax liability for 2019)20 is as detailed in the tax calculation. 
    The balance due on 31st January is the amount shown on that calculation less any payments on account made in respect of 2019/20 on 31st January 2020 (and 31st July 2020 if you paid anything).

    You are also required to make a payment on account in respect of your 2020/21 liability on 31st January.
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