Increasing numbers of self-assessment tax payers are falling into serious arrears with their tax bills, says accountants and business advisors, Moore Stephens.

Currently, 117,000 individual taxpayers are now over six months behind with their tax bill for the 2016/17 tax year and have now been hit with the second of two penalties of five percent of the tax they owe, as well as late payment interest charges.

This is an increase from the 110,000 who were more than six months late in paying their tax bill last year.

Moore Stephens suggested the struggling UK economy has had a direct impact on the ability of taxpay...