July……… The weather is glorious (well sometimes it is…) the schools are getting ready to break up and most people are starting to look forward to their summer holidays. The last thing on people’s minds is usually their second payment on account for Tax which is due to be paid by 31st July.
Thanks HMRC just what we all wanted…
So if you do have to make payments on account, don’t forget that this needs to be paid by 31st July.
If you know that your income from the last tax year ending 5th April was a lot less than your previous year and you have not yet completed your self assessment tax return you may be missing a trick in being able to reduce your July tax payment.
If you would like to talk to someone about completing your tax return or reviewing your payments on account contact one of our advisors and we will be happy to help.
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