HMRC issues warning over late tax payments due today

HMRC issues warning over late tax payments due today

Self-employed people have to make a payment by 31 July

31 July deadline to pay outstanding tax bills

standfirst: Individual self assessment taxpayers who have not paid their tax bill to HMRC must pay by 31 July or face fines and punitive interestIt is essential to meet this week’s deadline for payments on account as late payment interest rises from 3.5% to 8.25% on late payments.Blick Rothenberg, senior associate at Tom Goddard, said: ‘From May 2022 HMRC has increased late payment interest from 3.5% to 8.25% as part of their agenda to crack dow…