Late payments of tax: concession for flood victims

The taxman has announced that interest and penalty charges will be waived in cases of late payment by taxpayers affected by the recent floods.

Under self assessment, two payments on account must be made in respect of a tax year. The first is on 31 January during the tax year, and the second is on 31 July following the tax year. For the 2006-07 tax year, the second payment on account is due on 31 July 2007.

The recent floods have caused untold upheaval. In Gloucestershire, for example, many have been evacuated from their houses. Meeting their tax obligations must be the last thing on their minds. Jolly decent of the taxman, and a sign that we live in a civilised country, after all.

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