Many people do not realise that their tax bill needs to be paid and received by HMRC by 31st January as well as having their tax return filed by the same date.
If you’ve not yet paid your tax bill there are still a few ways you can get your payment to HMRC in time for the 31st January deadline.
Here are the quickest ways to pay your tax bill by 31 January 2018:
1. PAY ONLINE WITH YOUR CREDIT OR DEBIT CARD
To pay online CLICK HERE and follow the instructions but please note if you use a credit card there is a non-refundable fee for this service.
By using this method, HMRC will accept payment on the date you make it and not the date it reaches their account, even on bank holidays and weekends.
2. PAY ONLINE OR BY PHONE USING FASTER PAYMENTS, CHAPS OR BACS
To pay HMRC online, use the following information:
HMRC Cumbernauld
Account Number: 12001039
Sort Code: 08-32-10
HMRC Shipley
Account Number: 12001020
Sort Code: 08-32-10
For the reference use your Unique Taxpayer Reference (UTR) followed by the letter ‘K’.
Your tax bill will outline which account you’ll need to pay into, but if in doubt pay HMRC Cumbernauld.
Please note that Bacs payments can take around 3 working days but Faster Payments or CHAPS are usually received by HMRC on the same day.
3. PAY IN PERSON
You can only pay at your bank or building society branch by cash or cheque if you still get paper statements from HM Revenue and Customs (HMRC) and have the paying-in slip HMRC sent you.
If you have both of these, make your cheque payable to ‘HM Revenue and Customs only’ followed by your reference number – this is your Unique Taxpayer Reference (UTR) followed by the letter ‘K’ (you’ll find it on your paying-in slip). 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).
If you don’t have a paying-in slip you’ll need to pay by another method instead, choose from options 1 or 2 above.
As we near ever closer to the deadline, you would likely receive a fine for a late payment if you were to pay using a different method other than the ones listed above, but if you would like to find out more about the various ways you can pay your tax bill (and what to do if you can’t pay your tax bill) please visit: www.gov.uk/pay-self-assessment-tax-bill
If you have any questions about how to pay your tax bill or if you would like to discuss transferring to Hive, call us on 01872 300232 or email us at hello@hivebusiness.co.uk.
