16/07/2026
Every July, I have this conversation with business owners.
Many people remember the January tax deadline but completely forget about the second Payment on Account due on 31 July.
If you pay tax through Self Assessment, take a few minutes to check your HMRC account or your tax calculation to see if a payment is due.
Missing the deadline could mean interest starts to accrue on any unpaid amount.
If your income has genuinely reduced since last year, you may be able to reduce your Payments on Account.
Just make sure it's done correctly, as reducing them too much could result in interest being charged on any underpaid tax.
A quick check today could save you money and unnecessary stress later.
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