HMRC announced permission to defer the ‘on account’ self-assessment tax payment due in July 2020 to Jan 2021. Tax payments up to £30,000 that are due in Jan next year (including those July deferrals) can be paid over 12mths during 2021 via HM Revenue & Customs’ Time to Pay tool. You will need to have filed your 2020 Tax Return to apply. If you wish to take advantage of this though, you will pay 2.6% interest. HMRCs contact number is 0300 200 3822.
Would you like to download our mobile app from the App Store?Download