Starting a new business? Get 40% off our accountancy services for 3 months! 😀


The deadline to pay your tax will depend on the type of business you have.

Sole Traders/Partnerships

Your tax and national insurance is due no later than 31st January following the tax year end that your accounts relate to. So for example, if your tax year ends 5 April 2014 then your tax bill will be due no later than 31stJanuary 2015.

If your tax bill is over £1,000 then you must pay payments on account. This means that HMRC will collect your tax plus the current year’s tax in two payments; one payment before 31st January and the second before 31st July.

Limited Companies

Your corporation tax payable is due no later than 9 months and 1 day after your year end. So for example, if your financial year end was 31st March 2014 then your corporation tax would be due no later than 1st January 2015. Failure to pay the corporation tax on time could result in surcharges and interest being charged to your company.

You can pay your tax bill using the following methods:

Faster payment:

You can transfer the tax you owe directly into HMRC’s bank account through faster payment. This means it will reach HMRC instantly.

Direct debit:

It is possible for you to set up a direct debit with HMRC so that you can pay regular amount towards your tax bill.


This online service allows you to pay your tax bill online with your debit or credit card. You can register for Billpay at the following link

Bank Giro:

If your bank or building society offers the bank Giro Service then you can pay your tax bill at your own branch with cash or cheque.

Post Office:

You can pay your tax bill at the Post Office with cheque or cash.


You can send a cheque to HMRC for your tax bill through the post. However HMRC highly recommends that you pay electronically.


For further information about when and how you should pay your tax, check out our video guide here.

About The Author

Karl Bilby

We work very closely with our expert accountants to bring you the latest factually correct tax and accounting news. We also enjoy writing about small business news that we hope you find useful!

More posts by this author
Inline Feedbacks
View all comments

Read more posts...

Umbrella Companies for Self-Employed Contractors

When you set up in business as a contractor you might either work as a sole trader or as a limited company….

Read More

Get Ready for Small Business Saturday UK 2022

Small Business Saturday started in the US in 2010, on the first Saturday following Thanksgiving. It aims to encourage shoppers to consider…

Read More

Architects and Tax

Architecture is a highly diverse sector when it comes to tax. It’s partly down to the type of businesses that carry out…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.


You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?


Call us on 020 3355 4047 if you’re not sure.