When do I need to pay my tax bill?

When do I need to pay my tax bill?

When do I need to pay my tax bill? 


Although you submit one tax return a year, you will probably make multiple tax payments. 

This is because of the “Payment on account” system put in place by HMRC. The system is there so the government can get your tax payments quicker. 

It works by using your tax bill for last year as an estimate of what you need to pay this year. This amount is split into two payments, one due in January and the other due in July. 

Once your tax return is submitted, they determine the difference between your tax bill and what you’ve already paid. This “balancing payment” is due in January. 

Note: Once you’ve submitted your return with ApariPro, you’ll go on to the HMRC website to pay your tax bill.

WE KNOW IT’S COMPLICATED! THIS VIDEO MAY HELP TO GIVE MORE DETAIL:


Video attached: Self Assessment tax - what to pay and when



APARI Software Ltd is an accounting software provider and does not supply specific tax advice. For more information please see our full terms and conditions.

    • Related Articles

    • Tax Terminology (Jargon Buster)

      Tax Terminology (Jargon Buster) We know tax can seem complicated, so we try our best to use everyday language in our ApariPro products. Here are some explainers for tax-related jargon: ACCOUNTING METHOD: CASH VS ACCRUALS Most self-employed people and ...

    • Tax return submitted! What happens next?

      Tax return submitted! What happens next? Thank you for choosing us to submit your tax return! Here’s what happens next. IMMEDIATELY AFTER SUBMISSION: WITHIN APARI SOFTWARE You will receive a “submission success” message within the ApariPro software. ...

    • Keeping evidence to support your tax return

      Keeping evidence to support your tax return You have an obligation to keep appropriate records to support the information in your tax return. ApariPro can store this information for you. If HMRC reviews your tax return, they may ask to see the ...

    • Essential information on your tax return

      Essential information on your tax return With tax returns, sometimes getting all your user names and passwords together is half the battle! Here are the 3 essential tax identifiers you need for your tax return. Tip: Our clever software can save these ...

    • Tax return submission errors

      Tax return submission errors IF YOUR HMRC CREDENTIALS ARE WRONG, YOU WILL SEE: Authentication Failure. The supplied user credentials failed validation for the requested service. You should be able to fix this quickly by yourself: Double-check your ...