If you work for yourself, or you’re a freelancer, or you work for a company but don’t get paid at source then you may well have highlighted 31st January in your calendar.
Midnight on that date marks the deadline for doing your online self-assessment tax return and paying the full amount owed (if any) to HM Revenue and Customs (HMRC)
Even if you don’t actually owe any tax, there’s an automatic £100 fine if you miss the January 31 deadline, so it’s really important to make sure you get your tax return in before the last possible moment. Continue reading →
Missing a credit repayment can happen to everyone – but don’t be tempted to skip or delay your monthly repayments.
Late or missed repayments stay on your credit report for at least six years, so it’s not hard to see how important it is to stay on the right side of repayments. Your credit report can show you if you’ve missed some payments on cards or loans you have.
What happens with missed or late payments?
If you apply for new credit, and lenders see late or missed payments on credit agreements with other lenders, they may be concerned that you will miss payments to them too.
Late or missed payments in the past six years are likely to impact your credit score, meaning that any credit you do apply for and manage to get might cost you more money.
Gray from Experian Experts explains how late payments on your credit report might affect your credit application, and what you could do to help give your credit application a better chance of success. You can see more videos from Experian’s Experts on our YouTube channel.