I have filled in my tax return for 2014-15, which consists of a PAYE sum from a permie role, about £37,000, plus a dividend of ~£12,500 from my ltd company which ceased trading in July 2015 (PAYE was taken in the previous tax year). Anyway, the calculation says I owe £1,800 for the dividend, and then tries to charge me the same again as a payment on account due in two equal payments on 31 Jan and 31 July 2016. Having spoken with HMRC, this means they assume I will receive another identical dividend this year, which is not the case.
Do I just file the tax return, and say the payment on account is zero? When I rang HMRC they seemed to think there might still be a payment on account, for which I would be fined if I said it was zero. I tried to find out how a PoA could arise, but I find HMRC staff talk a dialect of English that is not easy to follow. They advised me to file the tax return, not say the PoA is zero, wait 3 days, then ring HMRC to examine my return and adjust the PoA as required. My concern is doing so might encourage them to take an extra close look at my return, and query the dividend, which would then be a real pain in the posterior.
I am tempted to file the return and say the PoA is zero since I will receive no dividends this year apart from ~£100 from a unit trust I hold. Is this wise?
Thanks
Do I just file the tax return, and say the payment on account is zero? When I rang HMRC they seemed to think there might still be a payment on account, for which I would be fined if I said it was zero. I tried to find out how a PoA could arise, but I find HMRC staff talk a dialect of English that is not easy to follow. They advised me to file the tax return, not say the PoA is zero, wait 3 days, then ring HMRC to examine my return and adjust the PoA as required. My concern is doing so might encourage them to take an extra close look at my return, and query the dividend, which would then be a real pain in the posterior.
I am tempted to file the return and say the PoA is zero since I will receive no dividends this year apart from ~£100 from a unit trust I hold. Is this wise?
Thanks
Comment