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HMRC Interest calcs

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  • Dazed_and_C0nfused
    Dazed_and_C0nfused Posts: 17,609 Forumite
    10,000 Posts Fifth Anniversary Name Dropper
    edited 19 March at 4:55PM
    Were the POA for £1,600 the amount after claims to reduce?

    What was the actual total liability for 2023-24?


  • TheSpectator
    TheSpectator Posts: 862 Forumite
    500 Posts Name Dropper
    edited 19 March at 5:02PM
    Unless there was an element of CGT in the £5647 22/23 liability then I would suggest a claim to reduce the 23/24 POA's was made otherwise they would be half the 22/23 liability and £1600 seems to be too round a figure to be anything else other than a claim to reduce. A claim to reduce that turned out to be excessive leading to the interest charge after the 23/24 Tax Return was eventually submitted.
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