Self Assessment payments on account (UK)
Under the UK Self Assessment system applicable to the TX-UK June 2026–June 2027 syllabus, qualifying taxpayers usually make two advance payments, generally calculated by reference to the previous year’s relevant liability. A balancing payment or repayment reconciles the final position when known. Exclusions, reductions, due dates and the treatment of particular taxes require the applicable year’s rules.
Worked example
For an exam scenario, an individual’s relevant previous-year liability is £4,000 and payments on account are required. Assuming no permitted reduction or excluded amount, two instalments of £2,000 each are due, with any later balance reconciled separately.
Common mistake
Treating the advance instalments as a final tax liability or assuming they apply identically to every taxpayer and every kind of tax.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | TX (UK) | Direct | June 2026–June 2027 |