Urgent – Payments for 2013/14 Self Assessment
Your deadline for making your second payment on account for self assessment for 2013-14 tax year is 31 July 2014.
If you don’t pay the tax you owe for the previous tax year on time, you’ll have to pay a penalty after 30 days and the longer you delay, the more you’ll have to pay. So it’s important to pay the tax as soon as you can.
The penalties are as follows:
| 30 days late | 5% of the tax you owe at that date |
| 6 months late | 5% of the tax you owe at that date. This is as well as the 5% above. |
| 12 months late | 5% of the tax unpaid at that date. This as well as the two 5% penalties above |
Further information is available on the HMRC website – HMRC deadlines for self assessment as at July 2014
