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Chartered AccountantsChartered Accountants

Tax Payments For The Self Employed

  • Income Tax payments for the self employed are normally made on the 31 January and the 31 July in two equal instalments followed by a balancing payment the following January.
  • For a year end of 31 March 2011 the tax on that set of figures would be paid partly on the 31 January 2011, partly on the 31 July 2011 and the balance due would be payable on 31 January 2012. Care needs to be taken in the initial years of trading as no on account payments will yet have been made and therefore the whole tax liability would be due on 31 January following the 5 April that your Tax Return is prepared.
  • Send us your Self Assessment calculation for a free review.

Email Edward Greeves

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