Time to Pay Your Tax!

Newsletter issue - January 2010.

January is the month when those big bills become due for payment, and that includes your tax bills...

If you do not have the funds to pay all the tax you owe in January, you should contact the HMRC Business Payment Support Service as soon as possible to arrange a payment plan. Their number is 0845 302 1435, they are open every day apart from bank holidays – Mon to Fri 8am to 8pm, Sat and Sun 8am to 4pm.

The tax officers that man this helpline can agree to spread the tax you owe over a period of up to six months, and suspend any surcharges for late payment that become due within that period, although interest will continue to be payable. However, you must set up a direct debit to pay regular instalments of the total debt. If you miss one of those instalments you will have to pay the surcharges due for late payment, and the balance of the debt will become payable immediately.

If you have a temporary funding difficulty in January you can pay a tax bill of up to £100,000 by debit or credit card through this website: https://www.billpayment.co.uk/hmrc/scripts/help1.asp This page is part of the HMRC website, but the billpay facility is run by Alliance and Leicester. Please note you will be charged a transaction fee of 1.25% when you pay your tax by this method, and you will also be charged interest by your credit card company at a much higher rate until you pay off the full amount owing.

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