REMINDER: Your July Tax Payment on Account Deadline Is Approaching!
As we move through July, we’d like to remind all self-assessment taxpayers that the second Payment on Account for the 2024/25 tax year is due by 31 July 2025.
What is a Payment on Account?
Payments on Account are advance payments made twice a year (in January and July) towards your next self-assessment tax bill. They’re based on your previous year’s tax liability. If your 2023/24 tax bill was more than £1,000 and less than 80% of your income was taxed at source (like PAYE), you’ll likely need to make these payments.
Why this matters:
Missing this deadline can lead to interest charges from HMRC, even if you plan to pay only a few days late. That’s why we recommend planning ahead and ensuring you have the correct amount set aside.
Expecting your income to be lower this year?
If your earnings have dropped or your circumstances have changed, you may be able to reduce your July payment — but you must act before the deadline. We can help you calculate a fair estimate and submit a claim to reduce your payments on account where appropriate.
Need support?
If you’re unsure how much is due, can't locate your HMRC payment reference, or want to discuss reducing your payment, our team is here to help. Get in touch as soon as possible to avoid last-minute stress or penalties.
Let us take the pressure off — we’ll make sure everything’s in order well before the deadline. Call 0151 321 2340 to speak to a member of our team.