Another self-assessment tax deadline is fast approaching. On July 31, the second instalment of payments on account for 2007/08 is due.

So, with the prospect of further alterations to the self-assessment tax system later this year, accountants say it is more important than ever that the self-employed and those with rental income are organised in their tax administration. Self-assessment tax payments are bi-annual: one due on January 31 and one on July 31. Any additional payments are then met on January 31 the following year.