The Business Bulletin
Taxpayers who are within self-
Where their tax and Class 4 National
assessment will need to pay any
Insurance liability for 2020/21 was
remaining tax due for 2020/21 by
at least £1,000 and less than 80% of
midnight on 31 January 2022, and
their liability was collected at source,
also any Class 4 and Class 2 National
such as via PAYE, the first payment
Insurance liabilities for 2020/21.
on account must also be paid by midnight on 31 January 2022. If you are struggling to pay what
Zinc Books Matthew is a chartered accountant and tax advisor based in Northampton. By taking the time to understand client’s
07498 202281 info@zincbooks.co.uk zincbooks.co.uk
32 | Issue 17 – Finance
your Government Gateway account if:
Ignoring the problem will not make it
■ you are within 60 days of
If you think that you are going to struggle to pay what you owe in full by the 31 January 2022 deadline, you should set up a time to pay agreement or contact HMRC as soon January 2022. However, if you miss
easier and to give them time back.
You can do this yourself online via
■ you owe less than £30,000;
able to provide solutions and advice to
software in order to make clients’ lives
time-to-pay agreement.
Contact HMRC
as possible, and ideally before 31
invested heavily in the latest accounting
you owe in instalments by setting up a
■ you have filed your latest
short and long term objectives, Matt is help meet those objectives. Zincbooks has
It may be possible for you to pay what
you owe, what can you do?
go away; rather, it will make it worse.
Matthew Goude
Paying in instalments
this deadline, all is not lost and you may still be able to set up or agree an instalment plan. Burying your head in the sand is
self-assessment tax return;
the payment deadline; and ■ you plan to pay back what you owe within the next 12 months or less. If you do not meet all the above conditions, you will not be able to set up an instalment payment plan online. However, you may be able to agree one with HMRC. To do this, you will need to call the Self-Assessment Payment Helpline on 0300 200 3822.
definitely not recommended. It is
The line is open from Monday to
important to open up a dialogue and
Friday from 8am to 4pm. If you
review your options with HMRC.
cannot pay another type of tax, for
