Hi all, On my original IPA agreement they estimated my tax payment to be about £215 per month where in reality it is about £300. My salary does fluctuate depending on how many on call payments I get but not massively. I have been sending in my salary slips every month so they will see what the average tax has been prior to my nil tax coding. If they estimate it too low, will they chase me for extra at the end of the financial year? I did tell the OR office that the estimate on the original agreement was wrong and he told me not to worry as it would all be sorted nearer the time but just wondered if anyone had similar experiences? Can't believe that it is nearly 6 months now since BR!!! Time flies.
Either the OR (via MoonBeever) or HMRC will want the amount that you should have paid in tax this year so you should put any excess to one side.
If the OR/MoonBeever underestimate the amount then just pay what they ask and once the tax year is over let them know that you have an additional amount left over. They can then decide whether to take this from you as a one-off payment or whether it should go back to HMRC.
Tax payments to Moon Beever
Posted - 24 August 2009 : 21:30:35
