I was wondering what the tax implication would be if I were to work outside the UK for short period during the year (1 month or less at a time)? I am thinking in the EU specifically.
Is there a cut off point before this starts becoming an issue?
If so, is that cumulative ir consecutive time spent abroad?
nb. this is my first time filling in a self assessment.
I have just finished my online self-assessment for my side job for the 2021/22 tax year - I need to pay £1,600 tax on this by 31/01/2023. However the View Your Calculation page then includes the line "1st payment on account for 2022-23 due 31 January 2023 - £690" followed by "Total due by 31 January 2023 - £2,290", with a note saying "2nd payment of £690.70 due 31 July 2023."
I'm a bit confused - I assume this extra £690 is an early estimate for part of the 2022/23 tax year, based on my earnings from 2021/22? I thought that each tax year is kept separate? The figures provided for 2021/22 are based on precise actual income received. I don't understand why I'll need to pay tax upfront for 2022/23 and then spend time recalculating it next year for over/underpayment..?? Surely it would just make more sense for me to pay my £1,600 now, then provide a new and accurate return for 2022/23 in Jan 2024, and pay the actual tax owed then?
Please can you clarify?