If your personal tax for Self Assessment in January was more than £1,000, HMRC require that you make your second payment on account by 31st July 2014 as they require you make two payments within the year. The first is paid in January and the second by 31st July 2014. A payment on account equals one half of the previous year’s tax liability.
You can find details of these amounts on your personal tax computation saved on the client portal. Please check the amount as detailed on the computation, to ensure when making payment, the correct payment amount is made.
Payment can be made by cheque, bank transfer or using the following link:
https://www.billpayment.co.uk/hmrc/scripts/index.asp
- Click pay now
- Click pay under self assessment
- Enter your unique tax reference number (10 digits) and the amount to be paid and the remainder of your details
Should you have any queries regarding your personal tax return, please contact the Account Support Team in the first instance.
More Blogs
How Do Pensions Work and What Tax Relief is Available
This article briefly explains how pensions work, the main types of schemes available, and the tax advantages that accompany them.
Self-Assessment Validation – What Checks does HMRC Perform and Why
In recent years we have noticed a higher incidence in the volume of self-assessment personal tax returns being checked. This article considers the areas that HMRC typically check, why, and common issues to try and avoid!
Sole Trader Bookkeeping Basics: What Every Self-Employed Person Should Know
Good bookkeeping is not only a legal obligation but is also essential for: managing cash flow, maximising tax efficiency, and building a sustainable business. This guide will take you through the fundamentals of bookkeeping at a high level, focusing on accountancy and tax advice tailored specifically to UK sole traders.
