Sorry to depress you all with another bump.
Just sorted out this year’s return for the first proper year of self-employment and actually having taxable earnings. This ‘payment on account’ thing is a nasty surprise, eh? Had no idea it was coming (although re-reading this thread I probably should’ve, oops) but fortunately have enough to cover it, and the second July payment.
The thing I don’t get is how it keeps rolling over. All going well I’ll no longer be freelance/self-employed for the 2021-22 tax year - how is that going to work in a year’s time if there’s nothing extra to be taxed on in advance?