Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

Self employed workers use an SA303 form to request a reduction of Self Assessment payments on account. The request can be made online or the form can be submitted to HMRC by post.

What do I need to include on my SA303?

You will need to provide an estimate for what the payment on account should be. Use your business accounts to work it out as accurately as possible to avoid incurring interest on any underpayments. HMRC also ask for an explanation as to why the payments on account should be reduced. This might be because:

 

Tax return services

When should I submit an SA303?

To reduce your payments on account you will need to submit your SA303 by 31st January after that tax year ends. This means that if you need to reduce your payments on account for 2019/20, the SA303 should be submitted no later than 31st January 2021.

What happens if I overpay my payments on account?

If you pay too much to HMRC they will send you a refund. Sign into your Personal Tax Account to check.

How do I get an SA303 form?

The SA303 form is available on the HMRC website, or you can complete and submit the information through your Self Assessment account.

Our online accountants can help you with your Self Assessment Tax Return. Call an advisor on 020 3355 4047, use the Live Chat button on screen, or get an instant quote for online accounting services.

About The Author

Beth-Anne Bruce

I'm an experienced and fully AAT and ACCA qualified accountant, who is enthusiastic about helping business owners succeed. I also love cooking and needlepoint (at different times!). Learn more about Beth.

More posts by this author
guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.