Self assessment - payment of tax

jhill

Hi All. i have filled out the forms and are reday for sending,

just the payment im not too sure with, do you send it off with the assessment ?

when do you pay ?

dont you have to pay 50% now and then 50% later ?

please advice. thanks

deanshepherd

2006/07 tax is due on 31st January and should not be sent with your tax return. Ways to pay can be found here.

Depending on your circumstances and how much tax you have to pay then you may also have payments on account to make towards your 2007/08 liability.

If applicable, this will be two payments equal to 50% each of your 2006/07 tax. The first of which will also fall due on 31st January. The second then payable on 31st July.

If this is the first year of being subject to payments on account then it's a bit of a double whammy of tax in one go.