Missed Your Tax Deadline? Don’t Panic – HMRC Gives You a Lifeline
If you’ve filed your 2020/21 Self Assessment tax return but can’t pay your bill in one go, you’re in luck. You can set up a Time to Pay arrangement online for up to 12 months on debts up to £30,000 – no need to chat with HMRC.
Simply head to GOV.UK and sort it all out from the comfort of your sofa.
£310 Million Paid in Instalments Since April 2021
Since April 2021, thousands have used the online Time to Pay service to cover more than £310 million in taxes by instalments. If your debt tops £30,000 or you need longer than a year, you’ll have to contact 1 directly to explore other payment options.
HMRC Extends Deadlines: Avoid Penalties If You Act Fast
The usual 31 January deadline for filing and paying tax has been pushed back this year. No penalties if you meet the new dates:
- File your tax return by 28 February and dodge the late filing penalty.
- Pay your tax in full or set up a payment plan by 1 April to avoid late payment penalties.
So, if you missed the original deadline, don’t delay. Get your tax affairs sorted now and steer clear of fines.
