UK Accounting Glossary
Payment on Account is a tax payment made twice a year by self-employed people in order to spread the cost of the year’s tax. It is calculated by looking at your previous year’s tax bill, and is due in two instalments. The Payment on Account can be thought of as a way of paying off some of your tax bill in advance.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Payment On Account are sourced/syndicated from:
This glossary post was last updated: 28th December 2018.