31 July – last chance saloon

31 July is an important date in the world of personal tax returns, for three reasons.

Tax return 2013/14: the filing deadline has long since passed, on 31 January 2015. If the return remains unfiled on 31 July 2015 a (further) automatic penalty kicks in of 5% of the tax liability for the year (or £300, if greater).

Payment of tax for 2013/14: whether or not the return has been filed, if any of the tax for 2013/14 remains unpaid on 31 July 2015 a separate (further) automatic penalty of 5% of the tax unpaid becomes due.

Payment of tax “on account” for 2014/15: the second payment on account for 2014/15 is due on 31 July 2015. There is no penalty for failure to pay on time: but (as with all tax), you will be charged interest if you pay late.

If you have any concerns as to your position, please get in touch with your usual BKL contact or use our enquiry form.

NICOLA HALL

BILSHAN MENSAH

Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

Jon Wedge

While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.

ELANA DIMMER

Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.

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