No, unfortunately, I am not talking about Christmas! It’s almost January and for a lot of people, those tax bill deadlines are fast approaching.

So, looking ahead to how you are going to pay your tax bill, are you aware of the upcoming changes? How will these changes affect you?

Are you aware of the upcoming changes in how you can pay your tax?
Over the coming few months there is going to be a few slight changes to the way people can pay their tax bill.

At the Post Office
As of the 15th of December 2017, you will no longer be able to pay HMRC via the post office. This is due to the contract between Santander and HMRC which allowed this method of payment expiring on this date and they have not reached an agreement on a new contract.

Payments on personal Credit Card
As of the 13th January 2018, you will no longer be able to pay your tax bill via personal credit card. This is due to the change in EU law which prohibits merchants (HMRC included) from recharging the credit card fees to the payers. This doesn’t seem to leave HMRC with much choice since HMRC are only allowed to accept credit card payments if it doesn’t cost the public purse.

As the change in date is before the end of January those that were planning to pay via this method will need to consider making the payment before the 13th.

Debit card payments are still allowed and this change in law does not influence corporate, business and commercial credit cards.

How can you pay your tax bill?
The fastest methods are:

• By debit card online – This tends to be the preferred payment method as the payment will be accepted on the date you make it not the date the payment is received which can be very useful if you are running out of time.
• Online or telephone banking
• In person at your bank or building society

Some other slower methods are:

• Bacs
• Direct Debit
• By cheque through the post.

If you would like to find out more about any of these methods click here.

If you would like to find out more about our business advisory services, please get in touch on 01872 300232 or email hello@hivebusiness.co.uk.