Self-employed contractors have just a few days left to pay their payment on account.
The second annual tax installment is due on the 31 July and is payable by anyone who is self-employed, or anyone that has substantial income not paid by an employer or pension provider.
Most contractors will have already paid the bulk of their income tax before the first January 31 deadline. The payment on account system means that contractors pay an advance on what the taxman thinks they will owe for the current tax year.
The July 31 payment will reduce what you have to pay next year.
