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Hi my name is Lyanne and I’m the managing director of Wilds. The coronavirus outbreak is having a huge impact on everyone at the moment and we are trying to provide as much support as we can during this time. Have a look at our coronavirus updates on the website and contact us if we can help with anything else.

 

Can i reduce my payments on account?

The tax payment on 31st July 2019 is the 2nd interim payment of your 2018-2019 tax liability. It is half of your previous year’s tax bill.

You can apply to HMRC to reduce the amount you have been asked to pay if you are self- employed and your taxable business profit for 2018-2019 has gone down, the tax reliefs you are entitled to have gone up, or you genuinely believe that your overall tax bill will be lower than the previous year.

The application can be made by post to HMRC or by using HMRCs on-line service.

If Wilds are your accountant please contact us if you think any of these circumstances apply to you.

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