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Where Taxpayers and Advisers Meet

Payment on account

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Ellie99
Posts:12
Joined:Wed Aug 06, 2008 4:01 pm
Payment on account

Postby Ellie99 » Sun Jul 20, 2025 5:13 pm

Hi,
Is there likely to be a penalty if the POA is paid on 1st or 2nd Aug instead of 31st July? 🤔
If so, how much is it likely to be pls?
Tnx
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darthblingbling
Posts:786
Joined:Wed Aug 02, 2017 9:09 pm

Re: Payment on account

Postby darthblingbling » Sun Jul 20, 2025 5:51 pm

No, just interest
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Ellie99
Posts:12
Joined:Wed Aug 06, 2008 4:01 pm

Re: Payment on account

Postby Ellie99 » Sun Jul 20, 2025 9:20 pm

Thanks.
Any idea of daily rate pls? 🤔
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darthblingbling
Posts:786
Joined:Wed Aug 02, 2017 9:09 pm

Re: Payment on account

Postby darthblingbling » Mon Jul 21, 2025 8:02 am

Take amount due, multiply by HMRCs rate of interest for late payments and divide by 365
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