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Posted Thu, 25 Jul 2024 19:29:08 GMT by Brian Courtney
Hello. I have a question regarding my first year filing self assessment tax return. I'm a UK/US citizen recently relocated to UK and I am UK tax resident with only pension and interest income from US. No UK income. I just completed my US tax return for 2023 tax year and understand that I'm required to file a self assessment return with HMRC. After my personal allowance and falling in the 20% tax bracket It looks like I will owe about 3500 pounds in tax for April 2023- April 2024 tax year. I've been reading that I will be required to make payments on account for tax year April 2024-April 2025. Was wondering what my requirements and timing deadlines etc. will be for payments on account moving forward as I anticipate this same scenario each year and don't want to incur any penalties or interest. Won't know the exact amount of tax I will owe until I complete and file my first UK return. Thanks for any advice and direction on this.
Posted Wed, 31 Jul 2024 07:57:05 GMT by HMRC Admin 20 Response
Hi,
If once your submit your 2023/24 payments on account are due for 2024/25 these payments are split into 2 payments due 31 Janaury 2025 and 31 July 2025.
Thank you.

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