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Taxpayers reminded of looming payment date

People who file self-assessment tax returns are being reminded that the next date for making a payment is imminent.

The year’s second instalment of payments on account for 2008/09 is due by 31 July.

Anyone who does not make the payment of tax owing for the second half of 2008/09 will face the risk of a 5 per cent surcharge on the amount due, while interest will begin to accumulate on the outstanding sums.

While the January deadline carries a month’s leeway before the surcharge becomes payable, the July date is not so accommodating, and the penalty charge will apply at once.

The date affects some 10 million taxpayers.