Are you self-employed? If you are, you may need to make your second payment on account for 2016-17, due date for payment is 31 July 2017.
This second payment on account will have been based on 50% of your combined Self Assessment tax and Class 4 NIC liability for 2015-16. Which raises an interesting question.
What if your actual Self Assessment liability for 2016-17 is higher or lower than the liability for 2015-16? From a cash flow perspective, the outcome is win-win in both cases. Let’s consider the two options in more detail:
2016-17 liability is higher than 2015-16
In this case your taxable profits will have increased, year on year, and after your January and July 2017 payments...