{"id":2458,"date":"2000-01-08T10:55:03","date_gmt":"2000-01-08T09:55:03","guid":{"rendered":"http:\/\/159.65.127.138\/?p=2458"},"modified":"2026-02-25T03:14:23","modified_gmt":"2026-02-25T02:14:23","slug":"second-payment-on-account","status":"publish","type":"post","link":"https:\/\/taxing.it\/it\/second-payment-on-account\/","title":{"rendered":"Second Payment on Account"},"content":{"rendered":"<div data-elementor-type=\"wp-post\" data-elementor-id=\"2458\" class=\"elementor elementor-2458\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ba97ba7 e-con-full e-flex e-con e-parent\" data-id=\"ba97ba7\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-12cc33c e-con-full e-flex e-con e-child\" data-id=\"12cc33c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-270e599 elementor-widget elementor-widget-text-editor\" data-id=\"270e599\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p style=\"text-align: justify;\">By 30 November of each year, Italian taxpayers must make payment of the second payment on account (<em>acconto<\/em>) of their tax liability for the current year. The first payment is due earlier in the year at the same time as the tax due on income reported in the annual tax return for income received during the previous year &#8211; see this <a href=\"https:\/\/taxing.it\/it\/payments-on-account\/\" target=\"_blank\" rel=\"noopener\">blog post<\/a> for a full description.\u00a0<\/p><p style=\"text-align: justify;\">The amount to be paid by way of second account payment is, like the first payment on account,\u00a0 primarily based on the tax due as shown in the tax return for the previous year.\u00a0 Payment can be made by authorising your tax preparer to mandate the Tax Agency to take the money from your account or by payment via the form F24 at any Italian bank or by home\/online banking (if you have an Italian bank account). The payment forms split the payment between the various taxes &#8211; each tax having its own payment codes on the form.<\/p><p>The payment on account concerns, as regards individuals, mainly:<\/p><ul><li><a href=\"https:\/\/taxing.it\/it\/personal-income-tax-irpef-rates\/\" target=\"_blank\" rel=\"noopener noreferrer\">IRPEF<\/a> &#8211; personal income tax and additional regional and municipal (<em>comunale) <\/em>taxes<\/li><li>Substitute tax due by taxpayers on the 5% <a href=\"https:\/\/taxing.it\/it\/small-taxpayers-flat-rate-tax-regime\/\" target=\"_blank\" rel=\"noopener\">flat rate tax regime for the self employed (<em>regime forfettario<\/em>)<\/a><\/li><li>The &#8220;<a href=\"https:\/\/taxing.it\/it\/italian-tax-aspects-of-renting-italian-real-estate-for-landlords\/\" target=\"_blank\" rel=\"noopener noreferrer\">Cedolare Secca<\/a>&#8221; flat tax on Italian source rental income<\/li><li><a href=\"https:\/\/taxing.it\/it\/ivie-ivafe-wealth-tax-on-foreign-property\/\" target=\"_blank\" rel=\"noopener noreferrer\">IVIE and IVAFE<\/a> ownership taxes on foreign real estate, financial assets and bank accounts<\/li><li><a href=\"https:\/\/taxing.it\/it\/italian-social-security-contributions\/\" target=\"_blank\" rel=\"noopener noreferrer\">Social security contributions<\/a> for traders and professionals.<\/li><\/ul><div>\u00a0<\/div><div><p>No payments on account are required in respect of investment income (income from capital) subject to Substitute Tax at the flat rate of 12.5% (Government Bonds) or 26%, nor to income subject to separate taxation.\u00a0\u00a0<\/p><\/div><p style=\"text-align: justify;\">No tax is due if the amount of tax due is less than Euro 51.65. No payment need be made in June (and so the whole payment falls due in November) if the total amount due is less than Euro 257.52.<\/p><p style=\"text-align: justify;\">Pensioners who are on the <a href=\"https:\/\/taxing.it\/it\/7-per-cent-flat-tax-for-pensioners-coming-to-live-in-the-of-south-italy\/\" target=\"_blank\" rel=\"noopener noreferrer\">7% flat tax regime for pensioners<\/a> in the South of Italy do not need to make payments on account.<\/p><p>Payments on Account can be calculated according to one of two methods.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-be9e96e elementor-widget elementor-widget-text-editor\" data-id=\"be9e96e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>The Historical Method<\/h2><p style=\"text-align: justify;\">Generally the calculation of the payment on account is done simply on the basis of prior year tax: &#8220;the historical method&#8221;.<\/p><p style=\"text-align: justify;\">Under this method taxpayers pay 40% of last year&#8217;s tax liability in June, and 60% of last year&#8217;s tax by the end of November. For most traders and professionals the split has been changed, effective FY 2020, to 50% in June and 50% in November.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65953ef elementor-widget elementor-widget-text-editor\" data-id=\"65953ef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>The Forecast Method<\/h2><p style=\"text-align: justify;\">As an alternative to the historical method it is possible to use the forecast method.<\/p><p style=\"text-align: justify;\">The forecast method can be used when the taxpayer expects to realise income or profits in the current year which are lower than for previous years.<\/p><p style=\"text-align: justify;\">The choice between historical method and forecast method can be made for each individual tax. It is not necessary to apply one method to all taxes due.<\/p><p style=\"text-align: justify;\">In order to calculate the payment on account, using the forecast method, it is necessary to determine the presumed tax that will fall due for the relevant year, taking into consideration all the factors that go into calculating the tax liability &#8211; forecast total income, withholding taxes at source, tax credits (both domestic credits and foreign tax credits), a potential (future change of tax rates &#8211; difficult to predict)\u00a0 and <a href=\"https:\/\/taxing.it\/it\/list-of-deductions-and-deductible-expenses\/\" target=\"_blank\" rel=\"noopener noreferrer\">tax deductible items<\/a>.<\/p><p style=\"text-align: justify;\">This means effecting a simulation of the current year tax return and calculating the actual tax due on the basis of the simulation.<\/p><p style=\"text-align: justify;\">It is obviously difficult in mid November to come up with a 100% accurate simulation of the current year liability.\u00a0 Any underpayment, to the extent that the simulation is lower than the actual tax for the year, will be treated as generating a late payment penalty and interest.\u00a0 The Tax Agency has the power to apply an administrative penalty of 30% of the extra tax.\u00a0 However this can be reduced by immediate payment in case of assessment.\u00a0 Alternatively a taxpayer can automatically top-up the amount of tax underpaid, self assessing , and paying late payment interest and penalties under the &#8220;<a href=\"http:\/\/159.65.127.138\/tax-penalties-and-the-ravvedimento-operoso\/\" target=\"_blank\" rel=\"noopener noreferrer\"><em>ravvedimento operoso<\/em><\/a>\u00a0&#8221; rules.\u00a0 \u00a0The penalty will depend on when payment of tax is actually made.\u00a0 Note however that the reduced penalties under the <em>ravvedimento<\/em> scheme only apply where the Tax Agency has not yet started taking proceedings to recover the underpaid tax.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"<p>By 30 November of each year, Italian taxpayers must make payment of the second payment on account (acconto) of their tax liability for the current year. The first payment is due earlier in the year at the same time as the tax due on income reported in the annual tax return for income received during [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,129,151],"tags":[],"class_list":["post-2458","post","type-post","status-publish","format-standard","hentry","category-technical-resource","category-compliance","category-income-tax-for-individuals"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Second Payment on Account | Taxing.It<\/title>\n<meta name=\"description\" content=\"By 30 November of each year, Italian taxpayers must make payment of the second payment on account (acconto) of their tax liability for the current year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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