Early Submission of Self Assessment - payment deadline?

sheramber

Self assessment is not like PAYE. It doesn't charge tax according to when you receive the income. 

It charges tax due on the whole year's income regardless of when in the year you received that income

There is nowhere ion the SA return for you to give details when you received any of the income.  You report your annual income.

DoctorStrange

"However, tax on capital gains has nothing to do with payments on account, and cannot be the reason for the underpayment on payments on account."

The capital gain was the only difference. If there was no capital gain, I wouldn't have needed to do a SA.

I'll double check out the figures but, assuming I'm right, can I reclaim any interest?

Jeremy535897

I think you would have to give detailed figures for both 2020/21 and 2021/22 for anyone to confirm that.

[Deleted User]

DoctorStrange said:

"However, tax on capital gains has nothing to do with payments on account, and cannot be the reason for the underpayment on payments on account."

The capital gain was the only difference. If there was no capital gain, I wouldn't have needed to do a SA.

I'll double check out the figures but, assuming I'm right, can I reclaim any interest?

Can you clarify the exact date of the capital gain?