HMRC has issued a reminder to those who need who need to pay their Self Assessment tax that they may be able to spread the cost of their bill with the Time to Pay arrangement.
Not only is the 2023/24 online tax return filing deadline 31st January 2025, the same deadline applies to settling your 2023/24 liability. As interest will be due on tax paid late, it is usually best to pay your tax on time, where cash flow allows. Information on how to pay can be found on gov.uk.
Taxpayers who are unable to pay their tax bill in full and owe less than £30,000 can apply online without the need to contact HMRC directly. You will need to have filed your tax return, be up to date with other taxes and be applying no more than 60 days after the payment deadline. Further details of this service can be found at https://www.gov.uk/difficulties-paying-hmrc.
Those that owe more than £30,000 are still able to apply but would need to contact HMRC on 0300 200 3820.
Find further information on spreading your tax: GOV.UK
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