TAXPAYERS have been warned they could face hefty charges if they fail to meet the July 31 self-assessment deadline. The Association of Chartered Certified Accountants (ACCA) says that the people affected will be those who were due to make a payment in January for tax year ending April 5 2001.

If the deadline is missed, they are likely to face an automatic five per cent surcharge, in addition to the five per cent surcharge already imposed for the January late payment. And for taxpayers who failed to send back their returns in January, a second penalty of £100 will also be charged.

ACCA spokesman Malcolm Bradshaw said: "In order to avoid paying these charges, taxpayers must not forget the July 31 deadline otherwise they will incur further penalties and surcharges. Self-assessment has proved to be a complex process and it is easy to become confused with deadlines and payments. You should take steps now to ensure that you are able to complete and file your 2000/01 tax return and pay the tax by the deadline."