UK Tax Liability

[cve]

Hi All,

I need to clarify myself. If I have tax liability from last year as a self employee can I reduce them if I am not anymore self this year? If so how can I do that?

Thank you in advance

 

[wave]

Reduce existing tax liability from last year or provisional tax ?

 

[Becky]

Are you talking about a payment on account for the current tax year? They are calculated based on the prior year liability, so if you are no longer trading you can get in touch with HMRC and request to change the payments on account due.

Advice and links to reduce payments on account here: https://www.gov.uk/understand-self-assessment-bill/payments-on-account