Deadlines & payments on account
Lesson 7 of 12 in our free Side Hustles & Self-employment guide: a 5-minute money game with the key points below.
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Questions you'll answer
Mo's Self Assessment bill is £3,000 and payments on account apply. How much is EACH payment on account towards next year?
Mo realises on 2 February he missed the online deadline. He owes £0 tax. What happens?
Quick facts
- Paper tax return deadline → 31 Oct 2027. Paper is earlier: 31 October after the tax year.
- Online tax return deadline → 31 Jan 2028. Online: 31 January after the tax year.
- Balancing payment for 2026/27 due → 31 Jan 2028. Any tax still owed is due on 31 January too.
- Second payment on account for 2026/27 → 31 Jul 2027. Payments on account land on 31 January (during the year) and 31 July (after it).
- Fact: “Payments on account don't apply if over 80% of your tax is already taken at source (e.g. through PAYE).” — That's one of the exceptions. The other: if your bill is less than £1,000.
- Myth: “Payments on account are an extra tax on top of what you owe.” — They're advance payments towards next year's bill, not extra tax.
- Fact: “You can file your return before 31 January.” — From 6 April onwards. Filing early ≠ paying early, but it ends the January panic.