This is probably a question you get from newbies like me all the time, but when are my taxes on my sole-trader self-employment due? From what I understand, I have to submit my self-assessment for 2017/2018 by the end of January 2019, correct? Would I then get told by the beginning of the financial year of 2019/20 what taxes & NI contributions are due and then I pay them in that tax year?
This blog is really useful for newbies:
It explains when your taxes are due.
For the current tax year 2017 / 2018 you are correct in that you have to file your self assessment by 31st January 2019.
You will pay any tax and NI due also by 31 January 2019.
In addition, if applicable, payments on account will be made on 31 January 2019 and 31 July 2019.
This blog explains about payments on account – click here.
Advice given is for illustration purposes only and should not be relied upon for your tax planning or tax affairs. We recommend that you seek the advice of a suitably qualified accountant before making any tax planning decisions.