The second 2021/22 self-assessment payment on account for income tax and Class 4 NIC is due for payment on or before midnight Sunday 31 July 2022. Each payment on account is half of the previous year’s tax bill. 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% 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.