The second payment on account for the 2024/2025 tax year is due for payment by 31 July 2025.
Payments on account may be due if your tax and Class 4 National Insurance bill for 2023/24 was £1,000 or more.
Each payment on account is 50% of your 2023/24 tax and Class 4 National Insurance liability.
Our clients
We will be sending our clients (who have a 31 July payment) a reminder with a payslip over the next two weeks. Liability will have been highlighted to these individuals with their 2023/2024 tax returns. HMRC should also send clients a statement of account with a payslip, although not all clients receive them. Interest charges will apply if tax is not paid by the due date.
Assess your income for 2024/25
As the 2024/25 tax year has now ended, the tax position for that year can now be reviewed. If the tax liability is less than in 2023/24, there may be scope to reduce payments on account.
Please contact us to review your position.