Missed deadline: July payment on account

Have you missed the deadline for the personal tax July payment on account? We discuss what this means and what you should do next.

Tax liability payments made past the deadline

HMRC will begin to charge daily interest on the late payment and in addition, there may also be surcharges added. Therefore, it is important to check the full amount due, including the late payment interest.

If you are able to make the full payment

You should make it as soon as possible using the regular payment methods, which can be found on HMRC’s website:

https://www.gov.uk/pay-self-assessment-tax-bill

If you are not able to make the full payment

If you have not already, you need to contact HMRC’s help to pay department as soon as possible and see if they will allow you to set up a payment plan, HMRC refer to this as a “Time to Pay” arrangement.

HMRC will not set up a payment plan with you if they do not believe you will be able to keep up with the repayments. If HMRC do not agree on a payment plan with you, they will request the amount to be paid in full.

To set up a personal tax payment plan you can either phone HMRC on their self-assessment helpline or you can set up a payment plan online if you:

• have filed your latest tax return
• owe £30,000 or less
• are within 60 days of the payment deadline
• do not have any other payment plans or debts with HMRC

HMRC will ask you about your income and spending when you set up your plan.

Get In Touch

Contact your local Whitings office if you have any questions or are unsure of the amount you have left to pay.

Disclaimer - All information in this post was correct at time of writing.