Second payment of Tax due 31st July 2023

3 weeks, 4 days ago by Oliver Atkinson

If you are one of the millions of UK taxpayers who calculates and pays their income tax via a self-assessment tax return, then it’s possible you have a payment on account becoming due on the 31st of July 2023.

If your tax liability for the year ending 5th April 2022 was both over £1,000 in total and was not more than 80% deducted at source, it’s quite likely that you would have two payments on account to make towards next year’s tax bill – with the sum of both payments equalling the overall value of your tax liability for the 5th April 2022.

The first of these payments would have been due along with your tax liability by the 31st of January 2023 and should have already been paid. Your second payment must be paid by the 31st of July 2023 to avoid any penalties or interest.

Don’t think you can pay?

If you can’t afford to pay your second payment on account by the 31st of July deadline, we would under regular circumstance advise you to call the self-assessment to discuss this, and either arrange to reduce the payment or pay at a later date. However, with the recent news that the self-assessment helpline will be unavailable until early September, you may need to use HMRC’s webchat function to speak with them. Alternatively, if you have an appointed tax agent or accountant, they may be able to assist you in contacting HMRC regarding your payments.

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