B · Glossary
Balancing Payment
The final Self Assessment payment due 31 January each year.
A Balancing Payment is the difference between your final Self Assessment tax bill and the Payments on Account you've already made. Due by 31 January following the end of the tax year, alongside the first Payment on Account for the next year.
If you've overpaid via PoAs, HMRC issues a refund instead.
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