The deadline to complete your previous year’s self-assessment (2015/16) tax bill is 31 July 2016.
This second payment on account is required if your tax bill is more than £1,000, unless you’ve already paid more than 80% of all tax owed.
Registered taxpayers can submit their payments online via an account with HMRC.
Failure to submit payment by the deadline will incur charged interest from the date of payment. The current charge rate for late payment is 3.0%.
There are several ways to make a payment to HMRC:
- Direct debit or credit card
- Online banking.
If you still have tax to pay after making your payment on account, you must complete a ‘balancing payment’ by midnight on 31 January 2017.