Payments on Account are due by 31st July 2016.


Stead Robinson Paying your HMRC billWhat are payments on account?

‘Payments on account’ are advance payments towards your tax bill (including Class 4 National Insurance if you’re self-employed).

You have to make 2 payments on account every year unless:

  • your last Self Assessment tax bill was less than £1,000
  • you’ve already paid more than 80% of all the tax you owe, eg through your tax code or because your bank has already deducted interest on your savings

Each payment is half your previous year’s tax bill. Payments are due by midnight on 31 January and 31 July.

If you still have tax to pay after you’ve made your payments on account, you must make a ‘balancing payment’ by midnight on 31 January next year.

When do I have to make payment by?
Payments are due by midnight on 31 January and 31 July.

To make a payment on your account.
Visit: https://www.tax.service.gov.uk/pay-online/self-assessment

For further help and advice please contact us at info@steadrobinson.co.uk
01484 665023
http://www.steadrobinson.co.uk

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Author: steadrobinson

Welcome to Stead Robinson, Chartered Accountants in Huddersfield providing a personalised service to local business owners and individuals. For help with any of your accountancy and tax needs, please give us a call. All initial consultations are free of charge.

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