To avoid interest charges, you must pay an amount of preliminary tax that is at least one of the following:
- 90% of the tax due for that year
- 100% of the tax due for the preceding year
- 105% of the tax due for the pre-preceding year (this option only applies where you pay by direct debit - it does not apply if the tax due for the pre-preceding year was nil).
It is."that year" seems to be the year for which the prelim tax is being paid
Its not.and does not seem to be tied into the 2017 return.
I'm already feeling a bit better.
If you use option 1 and underestimate the tax due you may be liable for interest charges and/or penalties
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