Cookie Consent by Free Privacy Policy Generator Self Assessment Payment Plan - MPH Accountants & Business Advisors
Self Assessment Payment Plan

News

Self Assessment Payment Plan

HMRC has announced that providing you either pay your tax or make a time to pay arrangement by 1st April, you will not be charged the initial 5% late payment penalty.

The payment deadline for Self Assessment is 31st January and interest will be charged from 1st February on any amounts outstanding. The deadline has not changed, but this year, because of the impact of COVID 19, HMRC is giving taxpayers more time to pay or set up a payment plan. 

Payment plans or payments in full must be in place by midnight on 1st‌‌ April to avoid a late payment penalty.

HMRC recognises the pressure affecting customers due to the pandemic, and anyone worried about paying their tax should contact HMRC for help and support on 0300‌‌ 200‌‌ 3822.

The self-serve Time to Pay facility allows you to spread the cost of your tax liabilities into monthly instalments until January‌‌ 2022. You can set up a payment plan online, on GOV‌‌.UK.

Up next

VAT Penalty Charges

Read Article
VAT Penalty Charges