If you are having trouble paying your tax on time you may be eligible to receive support from HMRC by applying for an instalment payment plan. An online payment plan for self assessment tax bills can be used to set up arrangements for paying tax liabilities of up to £30,000.

Taxpayers who are due to make payments on 31 January 2024, may be able to qualify to implement a Time to Pay arrangement online.

To use the online option, you must have filed your latest tax return within 60 days of the payment deadline and intend to pay the debt within the following 12 months or less. If you qualify for a Time to Pay arrangement using the self-serve Time to Pay facility online, this option can be arranged without speaking to an HMRC adviser.

Taxpayers with self assessment tax payments that do not meet the above requirements need to contact HMRC to formally request a Time to Pay arrangement. These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities.

HMRC will only offer taxpayers the option of extra time to pay if they think they genuinely cannot pay in full but will be able to pay in the future. If HMRC do not think that more time will help, they can require immediate payment of a tax bill and start enforcement action if no payment is forthcoming.

Internet link: GOV.UK

Please contact us if you need advice on self assessment or any other tax issues.