In-Year Calculation and Payment for Income Tax Self Assessment and Corporation Tax for Small Companies

In response to HMRC's Summer 2021 Call for Evidence on opportunities and challenges of timely payment for Income Tax Self-Assessment (ITSA) and Corporation Tax for small companies, respondents: • recognised smaller, more frequent payments could benefit some taxpayers, e.g., with lower incomes or newly self-employed, and • highlighted challenges around HMRC's ability to accurately, or near-accurately calculate tax in-year. In response, the government announced a voluntary In-year Calculation Proof of Concept (IY...