Self Assessment – Get Time To Pay

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Self Assessment customers unable to pay their tax bill in full by 31 January can plan ahead this festive season to spread the cost by using HMRC's Time to Pay arrangement.

Time to Pay plans support those who cannot pay their tax bills on time by arranging regular monthly payments in return for avoiding any further late payment penalties

Online payment plans can be set up for tax bills up to £30,000, without the need to contact HMRC directly

With Christmas preparations well underway in many households, considering financial commitments may be on the agenda. So HMRC is reminding people who pay tax by Self Assessment of the opportunity to spread the cost of their bill.

More than 15,000 Self Assessment customers have already set up a Time to Pay payment plan for the 2023 to 2024 tax year to help spread the cost and there is still an opportunity to sign up for such an arrangement. 

Deadline

The online deadline to file a tax return for the 2023 to 2024 tax year and pay any tax owed is 31 January 2025. Anyone who is unable to pay their tax bill in full, owes less than £30,000 and is eligible, can quickly and easily apply online without the need to contact HMRC directly. Those that owe more than £30,000 are still able to apply but would need to contact HMRC.

Myrtle Lloyd, HMRC’s director general for customer services, says: “We’re here to help customers get their tax right and if you are worried about how to pay your Self Assessment bill, help and support is available. Customers can set up their online payment plan to suit their own financial circumstances and can spread those payments across a maximum of 12 months. It is a valuable option for someone needing extra flexibility in meeting their tax obligations.”

Taxpayers must file their Self Assessment tax return before setting up a Time to Pay arrangement. 

Different ways to pay

There are many ways in which people can pay their Self Assessment tax bill, including paying through the free and secure HMRC App or online at GOV.UK. A full list of payment options can be found on GOV.UK. There is also a video on YouTube that explains a customer’s Self Assessment tax bill and the different ways to pay.

Customers setting up a Time to Pay arrangement need to budget accordingly to ensure that regular monthly payments can be made. Any missed payment will incur interest as well as a penalty.

Picture: If you need time to pay your Self-Assessment tax bill, apply now.

Article written by Cathryn Ellis
16th December 2024

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