How To Pay Your Self Assessment Tax Bill

How To Pay Your Self Assessment Tax Bill

Paying your self assessment tax bill is simple to do by following the simple steps provided by the Government. Items to note include the important deadline dates for paying your tax bill which occur twice per year, and deciding upon your method of payment from the approved list. To see the various different ways of paying your self assessment tax, please click here:

The deadlines for paying your tax bill are usually: 

  • 31st January – for any tax you owe for the previous tax year and your first payment on account
  • 31st July – for your second payment on account

There are various ways to pay your bill – you can pay weekly or monthly, and you can also get help if you are unable to pay your tax bill online. You need to ensure you pay HM Revenue and Customs (HMRC) by the deadline, as you will be charged interest and may need to pay a penalty if you’re late with payment.

Depending upon how you decide to pay determines the time you need to allow. For example, you are able to pay the same or next day, 3 working days, or 5 working days – each of these timescales enable different payment methods (such as online or via telephone, by cheque, bacs, or direct debit). However, you are no longer able to pay at the post office. 

After paying your tax, you can view your HM Revenue and Customs online account to ensure the payment has been received. This often shows as paid between three to six working days later. 

If you require any assistance or have questions regarding paying your self assessment tax bill in accordance with the Government information listed above, please contact our friendly team of experts today by clicking here.