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In the UK, "Self-assessed income tax (for those who pay by instalments) will be deemed to accrue evenly over the tax year in which the relevant accounting period ends. The accrual will be based on the two payments on account (received in the January in the tax year and the July following it), with a statistical estimation of the balancing payment, net of repayments, due in the January of the year following the end of the tax year."

I'm having a little trouble interpreting this. Suppose I owe self-assessment tax to the UK on a single payment of $200K received 1 August 2022. Suppose further that I pay my UK self assessment tax by installments. First payment is due 31 Jan 2023; let's say that that's when I pay the tax on that $200K. When are the UK taxes owed on this 200K considered to have accrued: on August 1 2022? On 31 Jan 2023? Or is it 'continuous', e.g., 5/6ths of the taxes accrued during the 5 months from August through December, and 1/6th accrued in January?

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    If you are self employed you will pay tax on the nett profit after allowable business expenditures, plus the same amount of tax "on account" for the following year, in two installments: Jan 31 and Jul 31. The following year the same will happen, except it will be adjusted by how tax you have paid on account. When you cease self employment, you will perhaps get a tax refund (if any due) from the amount paid on account. Best to ask a tax accountant: with that revenue you can afford to.
    – Weather Vane
    Commented Nov 19, 2022 at 17:38
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    For self employed, earnings in August 2022 are not reckoned for the Jan 2023 tax return, which is for the tax year April 2021-2022. I am self employed. Earnings between 7 April 2022 and 6 April 2023 will be in my accounts which will be submitted for the January 2024 tax return.
    – Weather Vane
    Commented Nov 19, 2022 at 17:54

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