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Do You Need To Make A Payment On Account

Ten Facts You Might Not Know About Stamp Duty

If you owed over £1,000 in tax following submission of your 2014-15 Self Assessment Tax Return, you may shortly need to make a further payment on account towards your 2015-16 tax liability.

If you made a first payment on account in January, your second payment on account will be due to HMRC by 31stJuly 2016, so if you think this may affect you, contact your accountant or financial advisor soon.

For further information regarding payments on account, please see the HMRC website , or see here if you need details of how to make your payment.

Please bear in mind that HMRC will start charging interest on any amounts owing from 1st August!