|
answer text |
<p>The Chancellor understands that many Self-Assessment taxpayers may find it difficult
paying their Self-Assessment liabilities that become due on 31 January 2021, due to
the impact of the coronavirus pandemic.</p><p> </p><p>Therefore, on 1 October 2020,
the Chancellor announced that from that date HMRC’s online payment service had been
upgraded to enable more taxpayers to set up a Time To Pay instalment payment plan
without the need to contact HMRC beforehand. The threshold for using this service
was increased from £10,000 to £30,000. HMRC estimate that the increase in this threshold
will enable 95% of the Self-Assessment liabilities becoming due on 31 January 2021
to be paid this way.</p><p> </p><p>Those taxpayers with Self-Assessment liabilities
in excess of £30,000 can still contact HMRC to set up a bespoke Time To Pay arrangement
appropriate to their personal circumstances.</p><p> </p><p>HMRC can be flexible with
the duration of payment instalments. If a taxpayer needs longer than 12 months to
settle their tax liabilities they are encouraged to contact HMRC in the usual way
to agree a longer payment plan.</p>
|
|