Overview

• HMRC will launch formal investigations into UK households that miss their second Payment on Account due by midnight on July 31
• The advance payment equals half of an individual’s previous year tax bill for those with liabilities exceeding £1,000
• HMRC figures show more than three million self-assessment taxpayers are expected to make the July instalment
• Failure to pay on time incurs an 8.25% interest charge on overdue tax and can trigger further penalty probes
• Qdos CEO Seb Maley warns that late payments can snowball into deeper HMRC scrutiny and mounting financial consequences