Self-employed workers, sole traders and business owners across Omagh and the surrounding areas are being reminded to prepare for the Self Assessment payments on account deadline on 31 July.
HM Revenue & Customs has issued a reminder to taxpayers who may need to make their second payment on account for the 2025 to 2026 tax year.
Payments on account are advance payments towards your next tax bill. They include Class 4 National Insurance if you are self-employed and are designed to help spread the cost of your tax across the year.
There are usually two payments on account each year. These are due by midnight on 31 January and 31 July. Each payment is normally half of the tax you owed for the previous year.
You may need to make payments on account unless:
your previous Self Assessment tax bill was less than £1,000
or
you paid more than 80% of the tax you owed through other means, such as PAYE or deductions made before Self Assessment.
If you are unsure whether this applies to you, your Self Assessment statement or online HMRC account will show how much you need to pay.
Taxpayers do not need to wait until they have filed their next Self Assessment return before making payments on account. The deadline for submitting the 2025 to 2026 tax return, and paying any remaining tax due, is 31 January 2027.
Filing your Self Assessment tax return early can help you understand exactly how much tax you owe, plan ahead with greater confidence and avoid a last-minute rush.
Local business owners, freelancers and sole traders across Omagh and Tyrone should check their HMRC online account in good time and make sure any payment due is made before the 31 July deadline.
Read further details on payments on account.
Filing your Self Assessment tax return early means that you know how much tax you owe sooner.
