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Posted Tue, 26 Dec 2023 18:05:11 GMT by RH52 H
Posting on behalf of someone who has asked me for advice. Started tax year 2023/24 as employed so tax deducted under PAYE but recently started as self employed. Does he have to make a provisional tax payment on account for 31 January 2024 regarding 2023/24?We understand final payment for 2023/24 due by Jan 2025. If a provisional payment on account is required, how does he calculate this - is it 50% of estimated self employed income for 2023/24? Thanks
Posted Mon, 08 Jan 2024 13:08:58 GMT by HMRC Admin 19

It depends on the actual level of income and tax due. If the bill is more than £1000, payments on account will be required and will be based on the tax bill due. You can see guidance here:

Understand your Self Assessment tax bill

Thank you.
Posted Thu, 18 Jan 2024 17:01:05 GMT by
I am in the same position and don't know if I need to submit by 31st Jan 2024 or 2025 - the HMRC response is not helpful, sorry
Posted Mon, 22 Jan 2024 12:48:10 GMT by HMRC Admin 10
If only started after 6/4/23, your first return is not due until 31/1/25.

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