First Provisional Tax Return

In the first of the two Provisional Tax Returns you show the tax payable for the full tax year based on your estimate of taxable income. As the first Provisional Tax Return is for the first half of the tax year, half of the tax payable for the 12-month period is payable less any tax, e.g. PAYE, that might have been paid during the first 6 months.

Second Provisional Tax Return

In the second of the two Provisional Tax Returns you show the tax payable for the full tax year based on your estimate of taxable income. As the second Provisional Tax Return is for the full 12 months of the tax year, the full amount of tax payable is reduced by any Provisional Tax paid for the first half of the tax year and further reduced by any tax, e.g. PAYE, that might have been paid during the 12 month period.

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