Following the impact of the coronavirus pandemic, HMRC gave Self-Assessment taxpayers more time to pay their tax or set up a payment plan without facing a 5% late payment penalty charge, as long as arrangements were in place by midnight on 1 April 2021.
Taxpayers who have not yet paid their Self-Assessment tax liabilities can find further detail on how to pay their tax bill, or set up a monthly payment plan online if their tax liability is no more than £30,000, on HMRC’s website. For someone who’s Self-Assessment debts are more than £30,000, they may still be able to set up a Time to Pay arrangement, however, will need to call HMRC’s Self-Assessment payment helpline on 0300 200 3822.
HMRC have confirmed that almost 117,000 taxpayers have set up a self-serve Time to Pay arrangement online, totalling more than £437 million.
Further details of the penalties and further help for Self-Assessment taxpayers can be found on our website.