HMRC is reminding self assessment taxpayers they have just over a week to pay any outstanding tax liabilities in full or set up an online payment plan for the 2019 to 2020 financial year to avoid incurring penalty charges.
Last month, HMRC said that due to the impact of the COVID-19 pandemic, it was giving 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.
Those who have yet to settle their liabilities for the 2019 to 2020 financial year can pay their tax bill or set up a monthly payment plan online at GOV.UK. They can pay online, via their bank, or by post. Alternatively, setting up a Time to Pay arrangement allows taxpayers to spread the cost of their Self Assessment tax bill into monthly instalments until January 2022.
Anyone worried about paying their tax and unable to set up a payment plan online should contact HMRC for help and support on 0300 200 3822.
Almost 117,000 taxpayers have set up a self-serve Time to Pay arrangement online, totalling more than £437 million.
A 5% late payment penalty will be charged if tax remains outstanding, and a payment plan has not been set up, by midnight on 1 April 2021.