What to do if you missed the 31st July Payment Deadline

The deadline (31st July) for making your second payment on account has passed, if you forgot or couldn’t make payment then here’s what to do.

Firstly unlike filing deadlines there is no immediate penalty, there is just interest calculated at a relatively nominal amount, so if you have not paid it is not too late to act.

Please note that if you are more than 30 days late in paying your taxes HMRC may issue a surcharge of 5% of any taxes due, so it is best to act fast.

How to Pay Your Taxes

There are various ways to pay your taxes, these can be found here https://www.gov.uk/pay-self-assessment-tax-bill

You will need your 10 digit UTR number, this can be found towards the top of any letter from HMRC where they state “Our Ref:”

If you do not have a UTR number or need help locating it please get in touch.

What to do if You Cannot Afford to Pay Your Taxes

Not paying able to afford to pay your taxes is a more common problem for people than you may think.

If for whatever reason you cannot pay your taxes you must immediately open a dialogue with HMRC.

The reason for this is that HMRC have been instructed to take a softer stance on people who are in difficulty and they trying to avoid getting themselves in the position where people bury their heads in the sand.

So, if you cannot pay HMRC you should call them on 0300 200 3402 and explain your situation.

You should then ask to setup a payment plan. Make sure you agree a plan that you can stick to. So long as you stick to that plan then you won’t be charged any penalties.

If you have any questions or need any help then please get in touch with us today and we will be more than happy to help.

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