31 JULY: PAYMENT ON ACCOUNT DEADLINE

 

If you’re self-employed, you’ll need to make two advance payments towards your Self-Assessment tax bill, known as Payment on Account.

 


The first payment was due by midnight on 31 January and the second is due by 31 July.
If you don’t clear your tax bill (for the previous year) once you’ve made both payments, you’ll need to make a ‘balancing payment’ by 31 January 2022.
Missing these deadlines can be costly – you’ll get hit with a £100 fine if your tax return is up to three months late, and you’ll pay more if it’s even later.

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