Almost 25,000 taxpayers take advantage of online payment plan

With the self-assessment deadline looming, nearly 25,000 taxpayers have set up an online payment plan in order to manage their tax return payment, totalling £69.1 million.

As the pandemic has had such a negative impact on so many people’s finances, HMRC decided to increase the threshold for self-serve Time to Pay arrangements from £10,000 to £30,000 to help businesses and individuals who have been affected by Covid-19.

Once you have completed your 2019-20 tax return and know how much tax you owe, you can use the self-serve facility to set up monthly direct debits and spread the cost of your tax bill.

Karl Khan, HMRC’s Interim Director General for Customer Services, commented, “We know the past year has been tough for many businesses and self-employed people, which is why we’re helping them spread the cost of their tax bill into monthly payments.

“Self Assessment customers can use the self-serve Time to Pay facility for amounts up to £30,000 with almost 25,000 customers already benefiting from the service.”

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