Tag: Payments on account
What are payments on account, and why is my January tax bill so high?
If your last Self Assessment bill was over £1,000, and less than 80% of your tax was collected at source, HMRC makes you pay next year’s tax in advance. Two payments on account, each half of last year’s bill, due 31 January and 31 July. That is why your first proper January can demand 150% of what you expected: the whole of last year’s bill plus half of it again for the year ahead. Cited to GOV.UK, checked 20 October 2026.