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Old 28-02-2004, 13:30   #5
yesman
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Location: Cambridge
Posts: n/a
Re: Payment on account (tax)

Quote:
Originally Posted by zoombini
That sounds really stupid!

Why the heck should you pay in advance for something that you have not got yet?
Surely it should be either paid at the time or after you have recieved it?
Taken from the Inland Revenue website .

Quote:
How and when do I pay my tax?

You will need to pay any tax due by 31 January after the end of the tax year covered by the return.

You may also have to make two payments on account for the tax year before the return for that year is due.

Payments on account will be made on:

31 January in the tax year and

31 July after the end of the tax year (six months later).
If these two payments amount to more or less than the tax which actually becomes due for that tax year, then a balancing payment (or repayment) will be due on the following 31 January.
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