Over 20,000 people have used HMRC’s tax payment plan

HMRC’s online monthly payment plan service has so far been used by over 20,000 people in order to spread the cost of their tax bill.

Totalling £46 million so far, the self-serve Time to Pay tool allows people to manage how they pay their tax liabilities.

The online service, which will create a bespoke monthly payment plan based on owed tax and length of time to pay, can be used for tax bills worth up to £30,000 without the need to talk to HMRC.

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. To see if you’re eligible to set up a payment plan, go to GOV.UK and search ‘pay my self-assessment’.”

Those who are eligible will need to:

• have filed their 2020/21 tax return
• owe less than £30,000
• be within 60 days of the payment deadline
• plan to pay off their debt within the next 12 months, or less.

People are reminded that they have until the 31^st January 2022 to complete their 2020/21 tax return and pay their bill.

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