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Carol is a part-time employee who also runs her own sole trader business. She paid...

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Carol is a part-time employee who also runs her own sole trader business. She paid tax for 2016/17 as follows. Total amount of income tax charged 10,600 This included: Tax deducted through PAYE 2,000 She also paid: Class 4 NIC 3,000 Capital gains tax 5,000 How much are the payments on account for 2017/18 and by what dates are they due? Penalty for late payment of income tax or capital gains tax: There is a penalty if income tax, Class 4 NIC or Capital Gains Tax is paid late. Where taxpayers are making Payments on Account the penalty only applies if the final balancing payment is late (and not the 2 payments on account - if these are late then interest is charged) EXTRACT FROM TAX TABLES Late payment of income tax or capital gains tax: Unpaid 30 days after payment due date 5% of tax unpaid Unpaid 6 months after payment due date Further 5% of tax unpaid Unpaid 12 months after payment due date Further 5% of tax unpaid (1) Late payment penalties do not apply to payments on account

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