Second payment on account deadline reminder
28th June 2016
The deadline for the second payment on account for income tax paid through self-assessment is due on 31 July 2016.
Payment is required if your tax bill exceeds £1,000, unless you’ve already paid more than 80% of all the taxed owed.
There are 2 payments dates each year - 31 January and 31 July. Each payment made is half of your previous year’s tax bill.
If you’re already registered for self-assessment you can view payments on account via your online account with HMRC.
There are numerous ways to make a payment:
- direct debit or credit card
- online banking.
Failing to make payment before or on 31 July will result in charged interest from the date the payment is due. The current charge rate for late payment is 3.0%.
Rates often vary so visit the HMRC website to check out the current rates payable.
Talk to a member of our team about self-assessment.