I have a self-employed client who had no tax payments on account due during 2013/14 as his taxable profits for 2012/13 were below £1,000.
His taxable profits for 2013/14 exceed £1,000 so he would normally have On Account payments due on 31/1/15 and 31/7/15 re his 2014/15 year.
However, during 2013/14 he has made monthly payments on account to HMRC which bring his tax due on 31/01/15 re his 2013/14 tax year below £1,000.
My question is, will he have Payments on Account due re 2014/15 as his 31/01/15 payment is now less than £1,000? (My computer software indicates he will not, although I may have entered the payment on account details incorrectly!).
I hope I have explained this clearly and not mixed up any of my tax years!
Thanks in advance for your replies.