First payment on account for 2024-25

Hey guys, I just finished submitting my self-assessment for 2023/24. I use the money earned working alongside a full time job to be able to cover debt and bill repayments. I usually file as soon as I can, and pay the tax back monthly. This year, the "Total amount due for 2023-24" seemed fine, high but expected, but it's also added an additional payment of 50% for "First payment on account for 2024-25" and another additional payment of another 50% for "Second payment on account for 2024-25" due by Jan 31 2025 and Jul 31 2025 respectively. I simply can't afford that. I don't know where that figure came from, and my self-employed income fluctuates hugely year on year. I can't afford these two extra payments, which in effect double my bill this year. I can't afford to pay that, and I don't understand where it's come from. Please sort this out?

I would really appreciate any answers.

Just found out I can't even set up a payment plan. Guys I work alongside a full-time job to earn extra money to repay debt and to cover bills - why is this so hard? This is so stressful, I don't have thousands of pounds sitting around to pay the taxes on my income from last year PLUS the income you (incorrectly) reckon I'll earn this year. I use that money to pay debts and bills. I have no issue paying the tax on income I've earned (last year), but am not up for paying made-up tax for the year ahead. I can't afford that much money, for one. I can't afford to pay this bill which has been doubled for no reason. Please fix this??

Hi

If, after filing your return, you owe over £1000 in tax, our systems then predict what you will owe for the next tax year you will be due to file, and ask for that predicted amount to be paid in two instalments (called Payments on Account).
We ask for the first instalment on the 31st of January (which is 9 months into the tax year in which it is due), and the second on the 31st of July.
When you then file your tax return for that year, these payments are deducted from your overall tax bill.
We appreciate that this system may be less convenient for taxpayer's whose Self Assessment income fluctautes, though - as the first Payment on Account payment is requested 9 months into the tax year, you are more likely to have a reasonable idea of how much tax you will owe at the end of the 12 month tax year, and can adjust your Payments on Account accordingly.
To discuss adjusting your Payments on Account, contact us by webchat or post via Self Assessment: general enquiries

Thank you

Hi 

If you are unable to set up a payment plan online you can contact the helpline to discuss if a papyment plan can be agreed 0300 200 3822 8am to 6pm Monday to Friday.
If payments on account have been set up for the next tax year but your income has changed and the balance for the tax year will less then you can adjust the payments Understand your Self Assessment tax bill

Thank you

Hello. I have two payments on account in 2024 (31 January - already paid; and 31 July, still to come) as my 2022/23 tax return requires but the total is less than the tax I may owe for the subsequent year, 2023-24. I assume I won't be charged interest provided that I (a) pay both payments on account by the due dates and (b) pay the shortfall as a balancing payment by midnight on 31 January 2025. Is that correct? Thanks.

Hi,

That is correct.

Thank you.

Hi, I sent a claim claim tax relief because I left UK, however I see in the total amount the first and second payment on account for the 2024 to 2025 tax year. My claim request has been already accepted (the message on my profile has been flagged as Completed, and I also received a letter by post about the confirmation), but I would like to see just what I owe for the 2023-2024 year. Is there a way to have support on this enquiry? Thanks.

Hi Naomi,
If you would like us to confirm what your record is showing you owe for 2023/24, contact us by webchat or phone via:
Self Assessment: general enquiries.
Thank you.