Final reminder: second 2022/23 payment on account deadline is today

The second 2022/23 self-assessment payment on account for income tax and Class 4 National Insurance Contributions is due for payment on or before midnight today Monday 31 July 2023. Each payment on account is half of the previous year’s liability. Information on time to pay arrangements and how to apply is available on GOV.UK.

Anyone who is self-employed is required to make two payments on account every tax year unless:-

• their last Self-Assessment tax bill was less than £1,000; or
• they’ve already paid more than 80 percent of all the tax owed, for example through their tax code.

If a taxpayer knows their tax bill is going to be lower than last year, a request can be made to HMRC to reduce payments on account.