Self-assessment second payment on account deadline approaches

Jul 23, 2018

The deadline for paying the second self-assessment (“SA”) payment on account of income tax plus class 4 NIC for 2017/18 is approaching on Tuesday 31 July 2018.  Payment is due by midnight on that date.

Remember that 2 payments on account are required every year unless:

  • the last self-assessment tax bill was less than £1,000
  • the tax payer has already paid more than 80% of all the tax owed

The payment due is generally half of the previous year’s tax bill with any balancing payment for 2017/18 due by 31 January 2019

In 2016/17, the list of exclusions from online filing of SA tax returns was longer than in previous years. As a result, for those cases affected, HMRC extended the paper filing deadline from 31 October 2017 to 31 January 2018 meaning more paper returns were filed than normal.

We have recently become aware that HMRC has not processed all paper 2016/17 returns filed. This means that the self-assessment statements being issued in advance of the 31 July 2018 deadline for the second payment on account may be incorrect and should be very carefully checked.