HMRC issues urgent tax warning to millions ahead of crucial July deadline

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HM Revenue & Customs (HMRC) has warned millions of Self Assessment taxpayers they have just 30 days left to meet a key payment deadline.

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The second Payment on Account for the current tax year must be paid by July 31, a requirement affecting many self‑employed workers, landlords and others who complete an annual tax return.

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Missing the deadline could leave taxpayers in arrears and trigger interest charges on outstanding balances.Payments on Account are advance contributions towards the following year's tax bill, with each instalment typically equal to half of the previous year's Self Assessment liability.

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TRENDING Stories Videos Your Say The first payment is due on January 31, and the second on July 31.However, not all Self Assessment customers are required to make these payments: they generally apply only to those who owed more than £1,000 in tax last year and whose tax was not mostly collected at source through PAYE or another method.Taxpayers expecting a lower income this year can...

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