Tax & Accounting News

Self-assessment deadline reminder

23/07/2010

Self-assessment taxpayers are being reminded that the deadline for making their next set of payments is approaching.

The second payment on account for 2009/10 needs to be made by 31 July, together with any payments still outstanding for the 2008/09 tax year.

Tax bills for 2008/09 should have been paid by 31 January, and any that were not will have attracted a five per cent surcharge. A second five per cent surcharge, plus interest charges, will be applied to any payments not made by 31 July.

Taxpayers who have yet to submit their self-assessment returns for 2008/09 should also do so by this date, otherwise they will incur a £100 late filing penalty.

Taxes covered by self-assessment include income tax, Capital Gains Tax and Class 4 National Insurance contributions.

For more information please contact us.