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TODAY'S OTHER NEWS

Don't miss today’s ‘payment on account’ online tax return deadline

If as a landlord you are already in the self-assessment tax system then you may be due to pay your payment on account for the year ended 5 April 2018 today by midnight.

If you make advance payments towards your bill, known as ‘payments on account’, which is half your previous year’s, and have not yet paid it, then it is time to retrieve your Government Gateway login details, which you need to submit your Self Assessment.

If you have lost your Government Gateway user ID and password, you can simply register for GOV.UK Verify online, and it takes around 15 minutes to get new login details for Self Assessment.

Payment on account

‘Payments on account’ are advance payments towards your tax bill (including Class 4 National Insurance if you’re self-employed).

You have to make two payments on account every year unless your last Self Assessment tax bill was less than £1,000, you’ve already paid more than 80% of all the tax you owe, for example through your tax code or because your bank has already deducted interest on your savings.

Missed deadline

If you miss the deadline to file your online tax return, you could face a £100 fine.

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