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TODAY'S OTHER NEWS

Don't miss this month'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 2019 by the end of this month.

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 of Wednesday 31st July to file your online tax return, you could face a £100 fine.

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  • Dawn Ashe

    I thought the deadline for submitting the Tax Return online for the year ended 5th April 2019 was 31st January 2020, not 31st July 2019?

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    This article explains when you need to make a payment by 31 July. This has been the case for as long as I can remember.

    Dawn Ashe

    Yes but final paragraph says "Missed deadline. If you miss the deadline of Wednesday 31st July to file your online tax return, you could face a £100 fine." so includes details of when to file a Tax Return as well as details of when to make a payment.

     
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