Some Brits have less than 24 hours to meet a tax payment deadline that could see them fined with penalties starting at £100 if they don’t act quick enough
Self-employed income earners have until today to pay their tax bill. This is specifically for people who have chosen to make advance payments on their yearly bill rather than paying the hefty sum all at once at the end of January.
This amount also starts accumulating interest if it’s still not paid after three months, biting into the profits of self-employed people. However, it’s not all doom and gloom for those who can’t meet today’s deadline. Finance expert at Money.co.uk, Kyle Eaton, urged self-employed workers to be on top of their money management, including deadlines like today, to accurately report and pay their taxes on time. He advised: “Identifying the key dates and setting reminders can alleviate one of the biggest reasons why tax returns are either not filed at all or are wrongly submitted - which is that insufficient time was allocated to it.
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