Originally posted by psychocandy
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Previously on "Dividend Tax/Payments on account/company not trading this year"
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Originally posted by SlipTheJab View PostIts a big love/hate in for those 2
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Originally posted by northernladyuk View PostFTFY
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I'm heading back into contracting after a 3 year stint in the wilds of permiedom, and I'm very much glad to see that the traditional PC lazy question/NLUK withering response is still very much ongoing!
It's like putting on a pair of your favourite slippers
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Originally posted by washed up contractor View PostSo, you're the sole arbiter of such deeds and not the Admins? Yeah ok. You seem to get away with trolling when others are pulled. Clearly you in particular is given free rein.
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Originally posted by northernladuk View PostWell yes you are kind of right but PC could also be accused of similar. His inability to do even the simplist bit of research before asking a question on here is legendary. He's well aware of the search methods and that anything basic he struggles with will have been asked plenty of times. Using the google search on the forums for 'reduction payment on account' brings back 179 threads all asking the same.
https://www.google.co.uk/search?q=re...hrome&ie=UTF-8
Putting so little effort in and so many lazy posting is also called out explicitly in the list of things not to do in the prof forums so he's kinda just as bad.
This post...
http://forums.contractoruk.com/welco...e-newbies.html
states..
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Originally posted by northernladuk View PostWell yes you are kind of right but PC could also be accused of similar. His inability to do even the simplist bit of research before asking a question on here is legendary. He's well aware of the search methods and that anything basic he struggles with will have been asked plenty of times. Using the google search on the forums for 'reduction payment on account' brings back 179 threads all asking the same.
https://www.google.co.uk/search?q=re...hrome&ie=UTF-8
Putting so little effort in and so many lazy posting is also called out explicitly in the list of things not to do in the prof forums so he's kinda just as bad.
This post...
http://forums.contractoruk.com/welco...e-newbies.html
states..
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Originally posted by washed up contractor View PostAnd yet another trolling example.
The OP needs to talk to their accountant. Id expect them to be on the ball regarding such. I know mine are.
https://www.google.co.uk/search?q=re...hrome&ie=UTF-8
Putting so little effort in and so many lazy posting is also called out explicitly in the list of things not to do in the prof forums so he's kinda just as bad.
This post...
http://forums.contractoruk.com/welco...e-newbies.html
states..
So basically, we will help where we can but we dislike lazy posting. If you find the above steps too much of a hassle, you deserve all you get.
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Originally posted by SueEllen View PostTip - Don't get involved in the PC and NLUK splat except to tell them both to get a room.
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Originally posted by washed up contractor View PostAnd yet another trolling example.
The OP needs to talk to their accountant. Id expect them to be on the ball regarding such. I know mine are.
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Originally posted by northernladuk View PostBit rich coming from you isn't it?
The OP needs to talk to their accountant. Id expect them to be on the ball regarding such. I know mine are.
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Well, strictly speaking I dont have an accountant since I shut the company down at end of august.
Good to know I can not pay it.
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Firstly, payments on account aren't payments in advance. The first POA is due 10 months in to the tax year in which it falls with the remaining POA being due after that year has finished (unhelpful pedantic bit done).
You can absolutely reduce your payments on account if your declarable or untaxed income will be lower in the current tax year than in the year currently being reported on.
You can either do this on the SA form or through the gateway but will need to make sure that you know what any liability will look like for the current year as you should not reduce payments on account to a level below the tax which eventually becomes payable.
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Originally posted by psychocandy View Post
Not that I'm expecting HMRC to do things sensibly.
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Yes, you can reduce/eliminate payments on account, but you'll pay interest if you're wrong. You can login to your HMRC account and request this online or submit an SA303 or notify a reduced payment with your SA100. Or you can advance them with some of your signing on stash.
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