Less than a week left to pay self-assessment tax bill

Those who file a self-assessment tax return have less than a week left to either pay their bill or set up a payment plan to avoid a penalty.

The deadline date is usually the 31^st of January, but this year due to many struggling financially due to the pandemic, HMRC gave taxpayers additional time to file and pay their 2020/21 tax return.

Those who have yet to pay have until the 1^st of April (this Friday) to do so. If they are unable to, then it is still possible to set up an online payment plan to spread the costs over manageable monthly instalments.

Businesses and individuals who have filed their self-assessment and owe up to £30,000 are eligible for the Time to Pay service, which can be easily set up online without having to speak to HMRC.

If, however, you owe more than £30,000 or need longer to pay, you can call the self-assessment payment helpline.

Myrtle Lloyd, HMRC’s Director General for Customer Services, said, “We understand some customers might be worrying about paying their Self-Assessment bill this year, and we want to support them. There is still time to set up a payment plan – to see if you’re eligible go to GOV.UK and search ‘pay my Self-Assessment’.”

To find out more about contracting please contact Jaime on 01442 795 100 or email jaime.thorpe@dolanaccountancy.com.