I really don't understand "Payment On Accounts"

I have just drafted my SA tax bill and received the following return: 2022-23 balancing payment £5,460.00 1st payment on account for 2023-24 due 31 January 2024 £2,730.00 Total due by 31 January 2024 = £8,190.00 (Note: 2nd payment of £2,730.00 due 31 July 2024) What does this actually mean? Is my tax bill £8,190? Or £10,920? Why am I paying a 2nd lot of £2,730? Does this just go towards next years tax bill as a credit? Please don't refer me to some link, I'd really like a plain English reply please!

Please can someone help?

As I understand it, this means: - Your tax due for 2022-23 was £5460 - Your *estimated* tax due for 2023-24 is the same, £5460 - You'll pay that estimated tax in advance, in two "payments on account" (January and July) What you pay in January is your tax for last year PLUS the first payment on account for next year MINUS the two payments on account you already made for last year. For some reason it doesn't include the MINUS part in your SA summary, so it always looks like you have a massive tax bill due in January. But on the home page, the overall amount it says you need to pay should be correct.

Thanks Alex, that's how I read it. It's frustrating because I'm always going to be out of pocket by paying in advance. Not much I can do though I guess.

Hi Tom Askey,
When you submit your Self Assessment tax return and the balance due is over £1000 with less than 80% of your tax deducted at source then payments on account are introduced for the following tax year.
In this case you would have the balance to pay for 2022/23 and the 2 payments on account towards the 2023/24 balance.
Understand your Self Assessment tax bill
Thank you.