prashantkant kant
-
Balancing payments owing, after 2 payments on account made
Hi, I paid a tax balancing payment of approx £1600 for 2022-23 which generated 2 payments on account of approx £800 for jan 24 and then July 24. When i am doing my tax return for 2023-24 the total tax due, after deductions already made, amount to £1700. There is a statement on my tax calculation which states "this amount does not take into account any 2023-24 payments on account you may have already made". Why have the 2 POA i have already made not been accounted for here? If i make the stated balancing payment for 23-24, then i will have paid approx £1600 too much tax for the tax year 23-24. Yet, further POAs are now also required for 2024-25.