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Payment On Account

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Income Tax
What is Payment On Account? Do I Need To Pay To HMRC?

What is Payment On Account? Do I Need To Pay To HMRC?

July 03, 2024

In the UK, “Payments on account” are advance payments towards your tax bill for the current financial year. It also includes Class 4 National Insurance contributions for self-employed individuals. The due amount is calculated based on estimated assumptions and should be paid twice a year: one on 31st January and the other one on 31st&#8230; <a class="view-article" href="https://www.coreadviz.co.uk/blog/what-is-payment-on-account-do-i-need-to-pay-to-hmrc/">View Article</a>

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