Here are the various ways you can pay your tax bill once your tax return has been filed by your accountant. Please note you will need to pay your personal tax bill by 31st January 2017 to avoid penalties.

In all instances, you will need to know your 10-digit Unique Taxpayer Reference (UTR). This can usually be found on any HMRC correspondence, generally in the top-right corner.

Bacs/ CHAPS/ Faster Payments

This method is simply a bank transfer to HMRC. Please note Bacs can take up to three working days to clear whereas CHAPS and Faster Payments will be cleared on the same day or next day.

To pay by bank transfer you will need:

1. Your 11-character payment reference. This is your 10-digit Unique Taxpayer Reference (UTR) followed by the letter ‘K’.
2. The information for the account you need to pay into. Your bill will tell you which account you need to pay into. If you don’t have a bill, or you’re not sure, use “HMRC Cumbernauld”.

Online using a debit or credit card

This method is similar to buying something online, you will need to follow the steps outlined on the website. HMRC will accept your payment on the date you make it and not the date it reaches their account – including on bank holidays and weekends.

To pay by debit or credit card online you will need:

1. 1. 11-character payment reference this is your 10-digit Unique Taxpayer Reference (UTR) followed by the letter ‘K’.
   2. Your debit or credit card
   3. This link: tax.service.gov.uk/pay-online/self-assessment

Please note, if you are paying by credit card there is a non-refundable 3% surcharge.[/x_accordion_item]

By cheque through the post

Allow three working days for this method. You will need to make your cheque payable to ‘HM Revenue and Customs only’ followed by your reference number (your UTR) and send it to:

HMRC
Direct
BX5 5BD

You’ll need to include a paying-in slip that HMRC have sent you or if you don’t receive paper statements and would like to use this method you can print a slip here (note: this slip can only be used for this method).[/x_accordion_item]

Direct debit

You can use your HMRC online account and make single payments for 31st January. The first time you use this method, it takes up to  five working days to clear.

To pay by Direct Debit you will need:

1. 1. 1. 11-character payment reference this is your 10-digit Unique Taxpayer Reference (UTR) followed by the letter ‘K’.
      2. HMRC online account – If you haven’t got an account click here to set one up. It’s worth having an online account to check if and when any tax payments are due.[/x_accordion_item]

If you still receive paper statements from HMRC there are a few other options for you which include:

Your bank or building society

The good thing about this method is that HMRC will accept your payment on the date you make it and not the date it reaches their account (as long as you pay from Monday to Friday).

To pay at your bank or building society you will need:

1. 1. 1. 11-character payment reference this is your 10-digit Unique Taxpayer Reference (UTR) followed by the letter ‘K’.
      2. The paying-in slip HMRC sent you.

You will need to make your cheque payable to ‘HM Revenue and Customs only’ followed by your reference number (your UTR).

The Post Office

You can pay by debit card, cash or cheque made payable to ‘Post Office Ltd’. HMRC will accept your payment on the date you make it, and not the date it reaches their account (as long as you pay from Monday to Friday). However, the maximum payment using this method is £10,000.

To pay at the Post Office you will need:

1. 1. 1. Your 11-character payment reference. This is your 10-digit Unique Taxpayer Reference (UTR) followed by the letter ‘K’.
      2. The paying-in slip HMRC sent you. [/x_accordion_item]

If you have any questions about how to pay your tax bill or if you’d like advice on how to save tax, call us on 01872 300232 or email us at hello@hivebusiness.co.uk.