02/07/2026
The 31 July deadline for your second payment on account is coming up. But here's something worth knowing – that payment might be higher than it needs to be.
Your July payment covers the 2025-26 tax year, but HMRC works it out using your older 2024-25 earnings. So if your income dropped over the last year, you could be paying more than you actually owe.
The good news? You can ask HMRC to reduce it. Just log in to your online Self Assessment account and select "Reduce payments on account", or fill in form SA303.
If you reduce your payment too far and your final bill turns out higher, HMRC will charge interest on the difference. So only reduce it if you're confident your 2025-26 bill will be lower.
Not sure? You can file your 2025-26 tax return early instead. That way HMRC works out your exact figures and updates your July payment automatically – no guesswork, no interest risk.
