Missed deadline could mean unexpected bills

Thousands of businesses and self-employed individuals may face unexpected tax bills from HMRC due to a little-known deadline. Anyone required to make "payments on account" as part of a tax Self-Assessment must do so by July 31. Simon Thomas of Ridgefield Consulting, said: "The key issue is often cash flow rather than compliance; people aren't necessarily doing anything wrong, they just haven't planned for how the system works."