Personal Tax – Payment on Account Reminder

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

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.

Accounting Team

How Does MTD For Income Tax Work?

If you are a self-employed sole trader or earn income from property then you need to understand the new rules for Making Tax Digital (MTD) for income tax!  The new rules start from April 2026, and they will require you to submit your financial records to HMRC throughout the year, in addition to still submitting a self-assessment tax return.  Therefore it is essential to keep your accounting records up to date throughout the year (instead of just doing this at the year end), and if you don’t have time to do this yourself, then it is definitely a good idea to hire an accountant to help you!

George Ian Hope

What If I Haven’t Filed a Tax Return for One or More Years?

If you are a UK taxpayer and you haven’t filed your self-assessment personal tax returns for one or more years, you’re not alone!   In this article, we explain the consequences of failing to submit your tax returns, how interest and penalties are calculated, and what steps you can take to resolve the situation and bring your tax affairs up to date. We also explore why engaging with a qualified accountant can be an essential part of getting back on track!

Accounting Team