If you complete and submit a self-assessment tax return and are due to make payments on account, your second payment on account will be due by 31st July 2024. 

 

You normally have to make two payments on account each year, unless: 

 

• Your last self-assessment tax bill was less than £1,000; or 

• More than 80% of the tax you owe was deducted at source, i.e. from your salary via PAYE. 

 

The payments on account are calculated on the basis that your income for the following tax year will remain of a similar nature, or more. 

 

Therefore, if you know your income will be lower, and your 2024 tax return has not yet been submitted, it may be possible to reduce the payments on account. 

 

More information can be found here.