Tax payment reminder for self-employed dentists
For sole traders, paying income tax involves payments on account to HMRC in both January and July. This is a quick reminder your second payment on account is due by 31st July 2016. You will need your UTR to process the payment, this is a 10-digit reference found on any HMRC correspondence.
There are numerous ways to pay and the time you need to allow depends on the method you choose. Some methods even allow you to pay on the deadline.
Full details of ways to pay here: Link
Remember: You’ll be charged interest and may have to pay a penalty if your payment is late.
If you are a new associate, look out for articles by Sophie Kwiatkowski, an accountant with PFM Dental Accountancy in forthcoming issues of Young Dentist and BDJ Student magazines in which she gives an overview of tax and money matters.