Deadline looms for self-assessment payment plans

Deadline looms for self-assessment payment plans

International Association of Bookkeepers - Bookkeeping Qualifications, Bookkeeping Study and exams

 

Self Assessment taxpayers have until Thursday 1 April to pay any outstanding tax liabilities in full or set up an online payment plan for the 2019 to 2020 financial year to avoid incurring penalty charges.

In February, HMRC said that due to the Covid-19 pandemic they were giving Self Assessment taxpayers more time to pay their tax or set up a payment plan without facing a 5% late payment penalty charge.

Those who have yet to settle their liabilities for the 2019 to 2020 financial year can pay their tax bill or set up a monthly payment plan online by going to https://tinyurl.com/6fzv9vxe

Alternatively, setting up a Time to Pay arrangement allows taxpayers to spread the cost of their Self Assessment tax bill into monthly instalments until January 2022.

Anyone worried about paying their tax and unable to set up a payment plan online should contact HMRC on 0300 200 3822.

Almost 117,000 taxpayers have set up a self-serve Time to Pay arrangement online, totalling more than £437 million.

Latest Posts