Accountants-Guide.co.uk | Will I have to pay interest if the payments so not cover my taxes?


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Will I have to pay interest if the payments so not cover my taxes?

Answer:

If the payments on account are not enough to cover your taxes for the year, you will not have to pay any interest as long as you pay the outstanding balance by January 31. After that date the amount of money that you owe will incur interest charges on a daily basis.

[Self Assessment Guide]