Besides filing your tax return, it's essential to pay your tax bill too.
This includes the balance for the 2022/23 tax year and the first payment for 2023/24 by 31 January 2024.
Missing the 31 January deadline incurs a £100 fine, with additional penalties for late tax payments. Late penalties increase over time, starting with a £100 fine, then £10 per day after three months (up to £900), and further charges at six and twelve months. Late tax payments attract a 5% charge after 30 days, six months, and a year.
Give Accountica a call today on 07919221876 or email info@accountica.com