[ɛs-eɪ303]
An SA303 form is usually submitted by self-employed individuals who want to reduce their payment on account. HMRC automatically refund overpayment anyway.
An SA303 is a form issued by HMRC in the United Kingdom to allow Self-employed individuals to attempt to reduce their Payment on Account. This can be done if business profits or other income has gone down, or tax relief has gone up.
It must be filed by 31st January after the end of the Tax Year. It can be filed online or via the post.
HMRC will automatically refund any overpayments through Payment on Account so an SA303 is not necessary to be tax efficient. But, people might choose to file an SA303 so they can have the money for their use at any time
An example page of the SA303 is shown below:
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