Taxpayers reminded to ask for help if they need to spread tax bill

With the self-assessment deadline looming, those who still need to pay for their tax return are being urged to ask for help if they need it.

Taxpayers have until the 31^st of January 2026, to file their tax return and pay any tax owed.

It is advised to file as soon as possible to find out how much you owe, so you can ensure you have payment ready for the deadline date. For those who do not have the funds to pay in full, there is the option to set up a payment plan to help spread the costs.

Self-assessment payment plans

The Time to Pay arrangement can be set up online, and for those with bills of up to £30,000, this can be set up without even needing to contact HMRC.

However, this payment plan cannot be set up until a self-assessment tax return has been filed, so to avoid late payment penalties, it’s best to file as soon as possible.

Since the 6^th of April 2025, nearly 18,000 payment plans have been set up using HMRC’s service, helping taxpayers to avoid fines by arranging regular payments that suit their own circumstances.

How do I know if I need to file a self-assessment tax return?

In case you are unsure of whether or not you need to file a tax return, here are some typical examples of those who do:

• are newly self-employed and have earned more than £1,000
• are self-employed and earn less than £1,000 but wish to pay Class 2 NICs voluntarily to protect your entitlement to State Pension and certain benefits
• earn income from property that you own and rent out
• are claiming Child Benefit and you or your partner has an income above £50,000
• receive interest from banks and building societies (more than £10,000),
• receive dividends in excess of £10,000
• need to pay Capital Gains Tax

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