Tax payment dates: End of this January 2012

by **williss** on Tue Jan 10, 2012 12:13 pm

Am I correct in assuming the tax I will paying is for 6th April 2010-5th April 2011?
Cheers

by **Peter D** on Tue Jan 10, 2012 12:24 pm

Correct. Are you completing an SATR or are you PAYE. Regards Peter

by **williss** on Tue Jan 10, 2012 12:41 pm

Thanks Peter for the reply. It will be a SATR. I thought that I would be paying the year April 2011-April 2012 seeing as 2011 is now behind us. I also thought that Januarys payment would be my payment on account for tax year 2011-12 and the final payment before 5 April 2012.
I will also need to inform the CSA of my payments so I take it they will be expecting April 2010-2011 figures. Confused .
Cheers

by **Peter D** on Tue Jan 10, 2012 1:48 pm

I assume you have a UTR and are completing you SATR on line. Regards Peter

by **williss** on Tue Jan 10, 2012 3:14 pm

I do Peter yes.

by **wamstax** on Wed Jan 11, 2012 3:11 pm

Williss the SA principle is that the first year you file an SATR you will be making a return of your income to the previous 5th April e.g. year ended 5th April 2011 will be fileable by 31-01-2012. On the basis that you will not have made any payments on account the payment due on 31-01-2012 will be tthe whole tax for the year to 5th April 2012.

Of course now the bad news..... Unless your tax bill for the year to 5th April 2011 is as a result of one off items like capital gains and
(i) is more than £1K and/or
(ii) less than 80% of your tax bill was collected at source you will be required to make payments on account for the year to 5th April 2012.

The first interim payment for the year to 5th April 2012 will be 50% of the SA tax that has to be paid for 2011 and payable on 31st january 2012.

yes you will therefore pay 150% of the SA tax for 2011 if this is your first SA return of an continuing type (i.e. sources will continue into and beyond 2012)

Then you will pay the next interim payment for 2012 of 50% of the 2011 SA figure on (or before if you want) 31 July 2012.
Finally if when you come to file your 2012 tax return if there is any balance to pay over the interim payments you will pay that balance on 31-01-2013.
Then ensuing years will flow on the same basis with interim payments made during the year (31-01-2013 and every january following) and after the year on 31-07-2013 with any balance payable on the 31-01-2014 et seq