Could you have a tax payment due on 31 July?

The next Self Assessment Payment on Account deadline is approaching on 31 July.

If you're self-employed and made a Payment on Account in January, you may need to make a second payment by the end of July.

A Payment on Account is an advance payment towards your next tax bill, based on your previous year's tax liability. Because of this, many taxpayers are surprised to receive a payment request in July, particularly if they're expecting to think about tax only once a year.

Why act now?

 Checking your position before the deadline can help you:

• Understand whether a Payment on Account is due
  • Avoid last-minute stress and surprises
  • Plan ahead and manage your cash flow more effectively
  • Allow time to review whether your payments accurately reflect your expected tax liability

The benefit of filing early

 The sooner your records are up to date, the sooner you'll have a clearer picture of your tax position. Rather than waiting until the deadline is close, getting organised now gives you more time to prepare and budget for any upcoming payments.

Need help?

GoSimpleTax makes it easy to stay on top of your tax obligations, estimate what you may owe, and submit your Self Assessment tax return with confidence.

Don't leave it until the last minute, take a few minutes now to understand your tax position before the 31 July deadline.