14/07/2026
What are payments on account?
This is a common question we are getting at the minute due to the new tax year.
If you complete a Self Assessment tax return and your tax bill is over £1,000, HMRC will usually ask you to make payments on account towards next year’s tax bill.
These are advance payments made in two instalments -
📅 31 January
📅 31 July
Each payment is typically 50% of your previous year’s tax bill (excluding things like student loan repayments and capital gains tax).
This means you’re effectively paying some of next year’s tax in advance, which can come as a surprise if you’re not prepared.
Depending on the next years tax bill, you will either need to pay more or get a rebate.
Staying organised and planning ahead can help avoid cash flow stress when these payments fall due. If you’re unsure what you owe or when it’s due, getting proper advice can make all the difference.
To get this years tax return completed - [email protected] 07907 649 244
Reminder : Payments on accounts are due by 31st July
