July Payment on Account
If you are required to make a payment to HMRC before the end of the month you may be able to reduce the amount due, or eradicate it all together.
The payment due represents half of your total liability for the previous tax year (2016/17) and is paid upfront towards the subsequent tax year (2017/18) – the idea being that if your tax due for 2017/18 is the same as 2016/17 then there will be no liability as you will have already paid in advance.
However, if your income for 2017/18 is down on the previous year then you may be able to reduce this payment. If you believe that this applies to you then it is imperative that you get you contact us before 31st July so we can look to reduce/remove this payment.