You don't have to leave it until 31st January every year!

Your self-assessment and payment for that tax is due on 31st January each year for the previous tax year. 

If you leave your tax return to the last minute you will need to find the funds all in one go.  Unless you have been saving up!

Why not get it done and dusted in April each year?  Collect up all your information, complete your on-line self assessment and you will know exactly what you will owe in the following January.  Sit back and smile knowing that your Xmas will be stress free next year.

How it works....

If your tax liability was more than £1000 the previous year you will be asked to make a Payment on Account (first half of your previous tax bill) at the same time in January, Double whammy!  You will also need to make another payment (second half of previous tax bill) in July of the same year.

For example:

Bill filed his first tax return for 2016/17 with a liability of £5000.

Payments:

31st January 2022                                    £5000 
plus the first payment on account             £2500
Total payment 31st January                      £7500

31st July second payment on account      £2500


Bill filed his second tax return for 2022-23 with a liability of £6000

Payments:

31st January 2024                                   £6000
minus Payment on Account in hand        £5000 (Jan 2022 and July 2022 above)

left to pay                                                 £100

plus first payment on account                  £3000
Total payment 31st January                     £4000

31st July second payment on account     £3000

and so it carries on.....

So you see starting early really does help

If you need some support I offer self-assessment with variable package prices depending on time of year so please get in touch.