HMRC has recently expanded the scope of taxpayers who can arrange a payment plan online. What are the new parameters and conditions?
HMRC has recently expanded the scope of taxpayers who can arrange a payment plan online. What are the new parameters and conditions?
Simple assessment is used by HMRC where you have unpaid tax, e.g. from your state pension, that can’t be collected via PAYE, but don’t meet the criteria for a full self-assessment. Where applicable, you receive a letter from HMRC showing a basic calculation which you can then check and contact the department if the figures are wrong.
The general payment deadline is the same as for self-assessment, i.e. 31 January following the end of the tax year (or three months from the date of the letter if issued after 31 October). However, a time-to-pay arrangement can be agreed online, i.e. without needing to call and explain the circumstances, in some cases. The parameters for amounts due under simple assessment have recently been expanded. Now, an online application can be made where:
- the tax due is between £32 and £50,000; and
- you do not have any other payment plans or debts with HMRC.
To apply, you need to access the self-service part of your personal tax account via the Government Gateway.
Related Topics
-
The tax incentive to do a thorough stock-take
The annual stock-take isn’t exactly your favourite thing to do. You know resources could be better spent elsewhere so you try to get through it as quickly as possible. Why might it be worth a little more of your time?
-
MONTHLY FOCUS: STARTING TO THINK ABOUT VAT
The VAT registration threshold has barely changed over the last decade. As a result, more businesses are having to register. In this Focus, we look at the key considerations for a business that needs to register, or one that may be considering doing so on a voluntary basis.
-
Unused sales suppression tools can still trigger penalties
HMRC has published a new compliance factsheet explaining the penalties that can apply where a business possesses an electronic sales suppression (ESS) tool, even if it has never actually been used to suppress a sale. What do you need to know?