Self assessment POA due 31st July? | Delay it!
Deferring Self Assessment payments on account (POA)
If you are self employed, have property income, or otherwise asked by HMRC to pay 2 instalments each year towards you personal tax liability, then the next one is due by 31st July.
However, this time you have the option to defer this payment until 31 January 2021.
HMRC has confirmed that there’s no need to let them know either: they will assume the deferral option has been taken if no payment is received.
HMRC has confirmed that it will not charge interest or penalties on the deferred POA, provided it is paid in full by 31 January 2021.
So your options are:
• defer payment of your POA in full up until 31 January 2021
• pay your July POA as normal by 31 July 2020
• pay your POA any time between now and 31 January 2021 (either as one payment or in instalments).