samb
02-01-2015, 10:57 PM
For the first time in tax year 13-14 I earnt enough to need to pay on account. However, I haven't quite got my head around it moving forward - can someone explain? So I filed my tax return back in April 14 and have paid my bill for that now which I understand is the full amount owed from 13-14 plus half again which they consider to be an estimate of half 14-15s bill too. Then in July I will then pay the other estimated payment for 14-15. However I always file my tax return in April so I will already have submitted 14-15 so will they recalculate the payment I make in July or will I pay what they have estimated and then the balance of the bill in the January along with half the estimated for the next year based on actual for 14-15? I am going to be earning more this tax year than last so I think my tax bill will be higher again which is why I ask. Gosh this is confusing!