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  • Payment on account

    Please forgive my basic (and obviously very incomplete) knowledge of this subject, posting here was a last resort as I can't find an answer elsewhere. My primary concern is that on the face of it someone paying tax through Self Assessment appears to be paying 50% more to HMRC over a given 12 month period (excluding the first couple of years of self employment) than someone with the same earnings paying PAYE over the same 12 month period; one balancing payment of 50% and one payment on account of 50% on January 31st followed by a second payment on account of 50% on July 31st for the self employed person. I'm aware of the payment in arrears issues with Self Assessment. I would be delighted if someone could explain that I'm missing something here. Many thanks in advance, Pat