Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • tommytynan123
    • By tommytynan123 3rd Oct 17, 1:18 AM
    • 472Posts
    • 209Thanks
    Self-employed tax payments
    • #1
    • 3rd Oct 17, 1:18 AM
    Self-employed tax payments 3rd Oct 17 at 1:18 AM
    Son is about to move to self-employment and only 1 question so far if someone could help please.
    Having registered with HMRC is there a facility to pay into your tax account with HMRC on a monthly basis or is it just save it yourself ready for the self-assessment payment.
    If its with HMRC then he can't spend it !!
Page 1
    • purdyoaten2
    • By purdyoaten2 3rd Oct 17, 8:43 AM
    • 849 Posts
    • 405 Thanks
    • #2
    • 3rd Oct 17, 8:43 AM
    • #2
    • 3rd Oct 17, 8:43 AM
    Tax payments are due on 31st January and 31st July each year. Your tax account is run much in the same way as a credit card bill and I don't imagine regular credits being refused!

    The one thing that I would mention is that, even though your son commences shortly, his first tax payment will not be until January 2019! At that point he will have to settle tax due in respect of his profits from now until April 2018 AND a payment on account in respect of his accounts for the YEAR to April 2019 (depending on the date that he when he chooses to prepare annual accounts to).
    purdyoaten lost his password
    • BoGoF
    • By BoGoF 3rd Oct 17, 9:13 AM
    • 3,067 Posts
    • 2,336 Thanks
    • #3
    • 3rd Oct 17, 9:13 AM
    • #3
    • 3rd Oct 17, 9:13 AM
    See this link -

    This lets you pay by direct debit in advance.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

677Posts Today

5,788Users online

Martin's Twitter