TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Self-assessment second payment on account deadline

The deadline for paying the second self-assessment (“SA”) payment on account of income tax plus class 4 NIC for 2017/18 was Tuesday 31 July 2018. Payment was due by midnight on that date.

Remember that 2 payments on account are required every year unless:

  • the last self-assessment tax bill was less than £1,000
  • the tax payer has already paid more than 80% of all the tax owed

The payment due is generally half of the previous year’s tax bill with any balancing payment for 2017/18 due by 31 January 2019.

In 2016/17, the list of exclusions from online filing of SA tax returns was longer than in previous years. As a result, for those cases affected, HMRC extended the paper filing deadline from 31 October 2017 to 31 January 2018 meaning more paper returns were filed than normal.

We have recently become aware that HMRC has not processed all paper 2016/17 returns filed. This means that the self-assessment statements may be incorrect and should be very carefully checked.