Don’t forget the tax deadlines

Don’t forget the tax deadlines

Don’t forget the tax deadlines

Don’t miss 31 January deadline and incur fines and penalties

If you are reading this you are probably self employed or a company director and must file your 2018 Tax Return by 31 January 2019 and pay the tax due.

It’s not too late – yet.  But you will have to be quick now.

HMRC runs an annual campaign to encourage us all to file our self assessment tax returns (SATR) on time.  There are penalties for missing its January 31 self-assessment deadline, but you also face charges for missing payment deadlines.

But things are not getting easier for the taxpayer to comply.  Not so long ago HMRC also made changes to the way you can pay your tax.  You can no longer make payment using a personal credit card, or at a Post Office.

HMRC has announced two changes which will affect how taxpayers will be able to make payments to HMRC.

From 15 December 2017 it has not been possible to make payments to HMRC at a post office. The contract with Santander which allowed this method of payment expires on that date and Santander and HMRC have not reached agreement on a new contract. Where electronic payment is not possible, payments can still be made at bank branches (with a payslip) and payments for self assessment income tax can still be posted to HMRC.

From 13 January 2018 it will not be possible to pay HMRC using a personal credit card. The timing of this change coincides with the date from which HMRC will no longer be permitted to charge fees for payment by credit card.  Deduce from that what you will!

HMRC say:

Customers will continue to have alternative payment options including:

Details of ways to pay SA can be found on GOV.UK. Pay your Self Assessment tax bill

The other thing to add here is that if you are having financial difficulty paying your tax – tell your accountants and get advice.  The sooner you speak to HMRC’s Business Payment Support Service the better.

If you don’t know someone who can help you – speak to us. We should be able to point you in the right direction.

As specialist accountants Anytime keep our clients informed and help manage their finances.

Please remember that each individual’s circumstances will be different and therefore you should take advice before making any decisions.

For further advice existing clients email us at support@anytime.uk.com or call 03333 110 230

For new enquiries contact us or call now on 03333 110 103

 

The views expressed in this article are those of the author and no liability is accepted for any actions taken or not taken as a result.


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Did you file your tax return on time? If not – read on.  You may think it’s safe to ignore HMRC’s letters – but if you haven’t filed last year’s tax return it’s about to start becoming a lot more expensive. Your tax return was due on 31 January.  As that is now more than — Read more