HMRC - Manage Your Tax Bills Wisely

Ease the Financial Burden This Holiday Season

As Christmas preparations take center stage, many households are also thinking about their financial commitments. To help taxpayers manage their obligations, HMRC reminds Self Assessment customers that they can spread the cost of their tax bill if they’re unable to pay in full by the 31 January 2025 deadline.

Already, over 15,000 Self Assessment customers have set up a Time to Pay arrangement for their 2023-2024 tax bill—and there’s still time to apply.

This flexible system is designed to assist taxpayers in paying their tax in smaller, manageable monthly payments, giving them greater control over their finances.

💡 Who is eligible?
✔ You owe less than £30,000
✔ You cannot pay in full by 31 January 2025
✔ You have filed your Self Assessment tax return

✅ Set up your payment plan online today—no need to contact HMRC.
❗ If you owe more than £30,000, you can still apply, but you will need to contact HMRC directly.

Helping You Stay on Top of Your Taxes

🗣️ Myrtle Lloyd, HMRC’s Director General for Customer Services, reassures taxpayers:

"We are here to help customers manage their taxes, and if you’re worried about paying your Self Assessment bill, support is available. Our Time to Pay system allows you to set up an online payment plan that suits your financial circumstances, with payments spread over a maximum of 12 months. It’s a great option for those who need extra flexibility."

📝 Important: You must file your Self Assessment tax return before applying for a Time to Pay plan.

How to Pay Your Self Assessment Tax Bill

There are multiple ways to pay your Self Assessment tax bill, including:

✔ Via the HMRC app – free, secure, and available 24/7
✔ Online at GOV.UK – check the full list of payment options
✔ Bank transfer, Direct Debit, debit/credit card, or at your bank

📺 Need guidance? Watch HMRC’s official YouTube video explaining Self Assessment tax payments and different payment methods.

⏳ File your tax return early to avoid last-minute stress and to know your tax liability sooner!

Plan Your Budget and Stay Compliant

If you choose to spread your tax bill, make sure to budget accordingly.

⚠ Missed payments will incur interest and penalties.

💡 Selling goods or services online?
If you sell items online regularly, you may be required to complete a Self Assessment tax return. Check GOV.UK to determine whether your activity qualifies as a business and to learn about your tax responsibilities.

Beware of Tax Scams

🚨 Fraudsters often impersonate HMRC through emails, phone calls, and text messages to steal your personal and financial information.

🔎 Protect yourself:
✅ Search "HMRC tax scams" on GOV.UK to access a scam checklist.
❌ Never share your HMRC login credentials—they could be used to steal from you or claim benefits in your name.

Simple Assessment: Payment Deadline Reminder

📌 If you received a Simple Assessment letter, your tax payment is due by 31 January 2025.

🔹 No need to register or file a tax return—just pay the amount specified in your letter.
🔹 Simple Assessments apply to individuals with unpaid Income Tax from 2023-2024 that cannot be collected via PAYE (e.g., through an employer or pension provider).
🔹 If you receive a Simple Assessment after 31 October 2024, you will have 3 months to pay from the date of the letter.

💳 Payments for both Self Assessment and Simple Assessment can be made in full or in smaller amounts, as long as the balance is cleared before the deadline.

Pay easily through GOV.UK or the HMRC app.

📢 Get ahead of your tax payments today and enjoy peace of mind this holiday season!