Tax Liability

UK Discussion in 'Individuals' started by cve, Aug 10, 2018.

  1. cve

    cve

    Joined:
    Sep 19, 2016
    Messages:
    1
    Likes Received:
    0
    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
     
    cve, Aug 10, 2018
    #1
    1. Advertisements

  2. cve

    wave

    Joined:
    Oct 21, 2016
    Messages:
    21
    Likes Received:
    1
    Reduce existing tax liability from last year or provisional tax ?
     
    wave, Aug 12, 2018
    #2
    1. Advertisements

  3. cve

    Becky Administrator

    Joined:
    Aug 26, 2011
    Messages:
    486
    Likes Received:
    46
    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
     
    Becky, Aug 13, 2018
    #3
    1. Advertisements

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.