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Have done this one? Time to pay for SA tax bills online.

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    Have done this one? Time to pay for SA tax bills online.

    Self Assessment customers to benefit from enhanced payment plans

    As announced by the Chancellor last week, Self Assessment customers can now apply online to spread the cost of their tax bill into monthly payments without the need to call us.

    The online self-serve 'Time to Pay' service, has been increased to £30,000 for Self Assessment customers, to help ease any potential financial burden they may be experiencing due to the coronavirus pandemic.

    Once you've completed your tax return for the 2019-20 tax year, you can use the online self-serve 'Time to Pay' service through GOV.UK to set up a direct debit and pay any tax that is owed in monthly instalments, up to a 12-month period.
    "Being nice costs nothing and sometimes gets you extra bacon" - Pondlife.

    #2
    Interesting, hopefully it'll help some.

    I pay monthly anyway. Once I've got my liability confirmed I just set up a direct debit to pay it in equal instalments timed to make sure the right amounts are paid by the January and July deadlines. HMRC pay a little bit of interest back on the early payments which isn't any worse than what I'd get from a savings account these days.

    Comment


      #3
      You pay interest as from Feb 1st on the outstanding Tax. Anyone know how that is calculated?

      Comment


        #4
        The next SA submission in Jan 2021 is for the tax period ending just before covid hit. There can't be that many people who will have spent that money surely?

        In any case, most of us will have already paid through POA.
        See You Next Tuesday

        Comment


          #5
          Originally posted by rawly View Post
          You pay interest as from Feb 1st on the outstanding Tax. Anyone know how that is calculated?
          2.6% pro rata on the outstanding amount due from 1 Feb.

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