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Payment on accounts query?

cfcboy97
Posts: 22 Forumite

I had a really good year just when covid was kicking in and my tax bill was a lot higher than normal. But this year due to covid it’s hit a lot harder and I’m feeling the sting a bit.
I am on a 10 month payment plan with Hmrc to pay the payment on account I owe which is fine as I know what and when I need to pay.
Ive been doing my books for vat and notice my profit is going to be half of what it was last FY. Is it possible to reduce my payment on account if I’m in a payment plan ? Or do I just swallow it until April and expect my tax to be a lot less?
I am on a 10 month payment plan with Hmrc to pay the payment on account I owe which is fine as I know what and when I need to pay.
Ive been doing my books for vat and notice my profit is going to be half of what it was last FY. Is it possible to reduce my payment on account if I’m in a payment plan ? Or do I just swallow it until April and expect my tax to be a lot less?
0
Comments
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AIUI having a payment plan shouldn't prevent you from making a claim to reduce the POA.
Perhaps you could clarify exactly which POA you are referring to, 2020:21 or 2021:22???0 -
It's the future payment on account for for 220
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