Self employed workers who believe they may struggle to pay tax this year should consider arranging an affordable payment plan, HM Revenue & Customs (HMRC) has said.<\/p>\n
The report comes ahead of the 31 October 2021 paper Self Assessment deadline.<\/p>\n
While taxpayers are not required to pay tax until 31 January 2022, the coronavirus pandemic may have impacted their ability to pay in full.<\/p>\n
If you fall into this category, you may be able to set up your own affordable monthly payment plan by using HMRC\u2019s self-serve Time to Pay facility \u2013 enabling you to spread out your Income Tax and National Insurance bill for the 2020\/21 tax year and any deferred \u2018payments on account\u2019 that were due in July 2020.<\/p>\n
You can only use the facility if you owe \u00a330,000 or less, you do not have any other payment plans in place, and your tax returns are up to date.<\/p>\n
Commenting on the report, Myrtle Lloyd, Director General for Customer Services, said: \u201cWe want to help people get their tax returns right by making sure they are prepared and have everything they need before they start their Self Assessment.<\/p>\n
\u201cIf anyone is worried about paying their tax bill, support is available \u2013 search \u2018time to pay\u2019 on GOV.UK.\u201d<\/p>\n
Additional information<\/strong><\/p>\n The online Self Assessment deadline is 31 January 2022 \u2013 the same day tax is due.<\/p>\n If you received a Self Employment Income Support Scheme (SEISS) grant throughout the pandemic, it should be declared in the tax return for the tax year it was paid.<\/p>\n Get advice today<\/strong><\/p>\n For help and advice with related matters, please get in touch with our team today.<\/p>\n","protected":false},"excerpt":{"rendered":" Self employed workers who believe they may struggle to pay tax this year should consider arranging an affordable payment plan, HM Revenue & Customs (HMRC) has said.<\/p>\n","protected":false},"author":2,"featured_media":4367,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,75,108,87],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4365"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=4365"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4365\/revisions"}],"predecessor-version":[{"id":4366,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/4365\/revisions\/4366"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media\/4367"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=4365"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=4365"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=4365"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}