Latest news with #AdviceDirectScotland
Daily Mirror
4 days ago
- Business
- Daily Mirror
People warned to check if they owe tax as deadline for next payment looms
The deadline for paying the second instalment of tax for the 2024/25 financial year is fast approaching on July 31, but many people may be unaware they need to do so People are being prompted to check whether they owe any tax for the 2024/25 financial year as a crucial payment deadline approaches. Advice Direct Scotland has sounded the alarm, reminding workers that they must clear their tax dues by midnight on Thursday, July 31, to dodge potential penalties from HM Revenue and Customs (HMRC). Individuals who are registered for self-assessment for the 2024/25 tax year might have already made an initial payment to HMRC at the end of January, coinciding with the due date for the 2023/24 tax returns. Nonetheless, a second payment is expected by the end of July, termed a 'payment on account', which contributes towards their forthcoming tax bill. These instalments aim to ease the annual tax burden by spreading out payments and are estimated based on the previous year's tax liability. Yet, it's all too easy to overlook this deadline. Delays in settling the tax bill can trigger monetary sanctions from HMRC, with the penalty amount varying according to the tax owed and the extent of the delay. To ascertain if a payment is due before July 31, Scots are advised to log into their HMRC online account and review their self-assessment statement, reports the Daily Record. Should you anticipate that your tax liability will be less than the previous year, you have the option to apply for a reduced 'payment on account', which can be accomplished online or via post. Andrew Bartlett, chief executive of Advice Direct Scotland, commented: "Paying a tax bill is a long way from most people's minds during the height of the summer, which is why it is so easy to miss this particular HMRC deadline. "However, late payment fines will start to accrue if you forget about it, so make sure you login to your online account now and check if you need to act. "If your situation has changed and you think you will be liable to pay less tax than previously, make sure to ask for a reduction, which will keep the money in your pocket." He continued: "If you find the whole thing confusing, don't worry - the team is here to help Scots with self-assessment queries, completely free of charge. The service is backed by HMRC and provides an alternative to calling them directly." Advice Direct Scotland provides a complimentary tax helpline and website named which has HMRC backing, to assist individuals in understanding their tax responsibilities. Those requiring support with navigating the self-assessment procedure can contact a specialist adviser on 0800 756 3381. Beyond self-assessment guidance, personnel can respond to enquiries across numerous areas, from PAYE to National Insurance questions. They can also provide direction on tax matters relating to pensions, inheritance tax, capital gains tax, and marriage allowance, whilst offering assistance with claiming Child Benefit and Tax Credits.
Daily Record
4 days ago
- Business
- Daily Record
People warned to check if they owe tax ahead of payment deadline this month
People must settle their tax bills by midnight on July 31 to avoid potential fines from HMRC. Income tax rises for Scots in April - how the changes affect you Scots have been urged to check now if they need to pay any tax for the 2024/25 financial year ahead of a looming payment deadline. Advice Direct Scotland has issued a reminder that people must settle their tax bills by midnight on Thursday, July 31, to avoid potential fines from HM Revenue and Customs (HMRC). Those registered for self-assessment for the 2024/25 tax year may already have paid HMRC an initial instalment at the end of January, when tax returns for 2023/24 were also due. However, a second instalment is also due at the end of July, known as a 'payment on account', which goes towards their next tax bill. The payments are designed to help spread the cost of tax throughout the year and are calculated based on the previous year's tax bill. But the deadline is easy to miss. Paying the tax bill late can lead to financial penalties being issued by HMRC, with the amount depending on how much tax is owed and how late the payment is. To check if you need to pay something before July 31, Scots should login to their HMRC online account and check their self-assessment statement. If you know the tax you owe is going to be lower than last year, you can request a reduction in the payment on account, which can be done either online or by post. Andrew Bartlett, chief executive of Advice Direct Scotland, said: 'Paying a tax bill is a long way from most people's minds during the height of the summer, which is why it is so easy to miss this particular HMRC deadline. 'However, late payment fines will start to accrue if you forget about it, so make sure you login to your online account now and check if you need to act. 'If your situation has changed and you think you will be liable to pay less tax than previously, make sure to ask for a reduction, which will keep the money in your pocket.' He added: 'If you find the whole thing confusing, don't worry - the team is here to help Scots with self-assessment queries, completely free of charge. The service is backed by HMRC and provides an alternative to calling them directly.' Advice Direct Scotland offers a free tax helpline and website called which is backed by HMRC, to help people understand their tax obligations. Those who need help navigating the self-assessment process can call a specialist adviser on 0800 756 3381. As well as advice on self-assessment, staff can answer questions on a wide range of areas, from PAYE to National Insurance queries. They can also offer guidance on tax related to pensions, inheritance tax, capital gains tax, and marriage allowance, as well as help with claiming Child Benefit and Tax Credits.
Glasgow Times
6 days ago
- Business
- Glasgow Times
Taxpayers urged to check HMRC deadline to avoid fines
Advice Direct Scotland has issued a reminder to taxpayers across Scotland that self-assessment payments must be made by midnight on Thursday, July 31, to avoid fines from HM Revenue and Customs (HMRC). The warning is particularly relevant for those who pay tax through the self-assessment system. Read more: Children First seeks 'vital' safeguarders to champion children's rights Many self-assessment taxpayers will have already made a first payment on account in January when settling their 2023/24 tax bill. However, a second instalment – known as a "payment on account" – is also due at the end of July. These payments are based on the previous year's tax bill and are designed to spread the cost more evenly throughout the year. Missing the deadline can result in financial penalties, which increase depending on the amount owed and the length of the delay. Taxpayers are advised to log in to their HMRC online account to check their self-assessment statement and confirm whether a payment is due. If they expect their tax bill for 2024/25 to be lower than the previous year, they can request a reduction in the payment on account through HMRC's online services or by post. Andrew Bartlett, chief executive of Advice Direct Scotland, said: "Paying a tax bill is a long way from most people's minds during the height of the summer, which is why it is so easy to miss this particular HMRC deadline. "However, late payment fines will start to accrue if you forget about it, so make sure you log in to your online account now and check if you need to act. "If your situation has changed and you think you will be liable to pay less tax than previously, make sure to ask for a reduction, which will keep the money in your pocket." Advice Direct Scotland operates a free tax helpline and website – taxadvice. scot – supported by HMRC to help taxpayers understand their obligations. The service offers guidance on various topics, including self-assessment, PAYE, National Insurance, pensions, inheritance tax, capital gains tax, marriage allowance, child benefit, and tax credits. Those who need help can call a specialist adviser on 0800 756 3381. Mr Bartlett said: "If you find the whole thing confusing, don't worry – the team is here to help Scots with self-assessment queries, completely free of charge. "The service is backed by HMRC and provides an alternative to calling them directly."
Daily Record
6 days ago
- Business
- Daily Record
Lanarkshire locals urged to check if they need to pay any tax ahead of deadline
Advice Direct Scotland has issued a reminder that people must settle their tax bills by midnight on Thursday, July 31, to avoid potential fines from HMRC. Lanarkshire locals have been urged to check now if they need to pay any tax for the 2024/25 financial year, with a key payment deadline just two weeks away. Advice Direct Scotland has issued a reminder that people must settle their tax bills by midnight on Thursday, July 31, to avoid potential fines from HMRC. Those registered for self-assessment for the 2024/25 tax year may already have paid HMRC an initial instalment at the end of January, when tax returns for 2023/24 were also due. However, a second instalment is also due at the end of July, known as a 'payment on account', which goes towards their next tax bill. The payments are designed to help spread the cost of tax throughout the year and are calculated based on the previous year's tax bill. But the deadline is easy to miss. Paying the tax bill late can lead to financial penalties being issued by HMRC, with the amount depending on how much tax is owed and how late the payment is. To check if you need to pay something before July 31, Scots should login to their HMRC online account and check their self-assessment statement. If you know the tax you owe is going to be lower than last year, you can request a reduction in the payment on account, which can be done either online or by post. Advice Direct Scotland offers a free tax helpline and website called which is backed by HMRC, to help people understand their tax obligations. Those who need help navigating the self-assessment process can call a specialist adviser on 0800 756 3381. As well as advice on self-assessment, staff can answer questions on a wide range of areas, from PAYE to National Insurance queries. They can also offer guidance on tax related to pensions, inheritance tax, capital gains tax, and marriage allowance, as well as help with claiming child benefit and tax credits. Andrew Bartlett, chief executive of Advice Direct Scotland, said: 'Paying a tax bill is a long way from most people's minds during the height of the summer, which is why it is so easy to miss this particular HMRC deadline. 'However, late payment fines will start to accrue if you forget about it, so make sure you login to your online account now and check if you need to act. 'If your situation has changed and you think you will be liable to pay less tax than previously, make sure to ask for a reduction, which will keep the money in your pocket. 'If you find the whole thing confusing, don't worry – the team is here to help Scots with self-assessment queries, completely free of charge. 'The service is backed by HMRC and provides an alternative to calling them directly. Visit or call us on 0800 756 3381.'
Daily Record
6 days ago
- Business
- Daily Record
West Lothian locals urged to check if they need to pay any tax ahead of deadline
Advice Direct Scotland has issued a reminder that people must settle their tax bills by midnight on Thursday, July 31, to avoid potential fines from HMRC. West Lothian locals have been urged to check now if they need to pay any tax for the 2024/25 financial year, with a key payment deadline just two weeks away. Advice Direct Scotland has issued a reminder that people must settle their tax bills by midnight on Thursday, July 31, to avoid potential fines from HMRC. Those registered for self-assessment for the 2024/25 tax year may already have paid HMRC an initial instalment at the end of January, when tax returns for 2023/24 were also due. However, a second instalment is also due at the end of July, known as a 'payment on account', which goes towards their next tax bill. The payments are designed to help spread the cost of tax throughout the year and are calculated based on the previous year's tax bill. But the deadline is easy to miss. Paying the tax bill late can lead to financial penalties being issued by HMRC, with the amount depending on how much tax is owed and how late the payment is. To check if you need to pay something before July 31, Scots should login to their HMRC online account and check their self-assessment statement. If you know the tax you owe is going to be lower than last year, you can request a reduction in the payment on account, which can be done either online or by post. Advice Direct Scotland offers a free tax helpline and website called which is backed by HMRC, to help people understand their tax obligations. Those who need help navigating the self-assessment process can call a specialist adviser on 0800 756 3381. As well as advice on self-assessment, staff can answer questions on a wide range of areas, from PAYE to National Insurance queries. They can also offer guidance on tax related to pensions, inheritance tax, capital gains tax, and marriage allowance, as well as help with claiming child benefit and tax credits. Andrew Bartlett, chief executive of Advice Direct Scotland, said: 'Paying a tax bill is a long way from most people's minds during the height of the summer, which is why it is so easy to miss this particular HMRC deadline. 'However, late payment fines will start to accrue if you forget about it, so make sure you login to your online account now and check if you need to act. 'If your situation has changed and you think you will be liable to pay less tax than previously, make sure to ask for a reduction, which will keep the money in your pocket. 'If you find the whole thing confusing, don't worry – the team is here to help Scots with self-assessment queries, completely free of charge. 'The service is backed by HMRC and provides an alternative to calling them directly. Visit or call us on 0800 756 3381.'
