Under the Self-Assessment tax system:
- There are specified dates each year when you must pay your tax.
- You regularly receive a Statement of Account from HMRC detailing both tax recently paid and the next amount due.
The tax payment dates for 2011/12 are:
The one exception to the rule requiring direct payment of tax to HMRC relates to employees or pensioners who owe less than £3,000 in tax. They can choose to have the amount collected monthly in the following year through the PAYE system:
- by filing a paper return at their tax office no later than 31 October following the end of the ...