Tax Payments

January tax payments are due

There are two significant tax payments with deadlines this month. If they apply to you then be sure not to miss them!

• 1 January 2022 – Companies with a 31 March 2021 year end date will need to settle their Corporation Tax payment on or before this date.
• 31 January 2022 – Taxpayers who are subject to self-assessment will need to pay any underpaid tax and NIC for 2020-21 plus any first payment on account for 2021-22.

If you are an HFM client reading this reminder and need to know how much your tax payments are, or reference numbers to quote you should contact us asap.

Time to Pay Arrangement

And if you cannot make payment in full, on the due date, you could contact HMRC to ask for more time.

It is always a mistake to do nothing about tax payments you cannot pay. Contacting HMRC is usually the best thing to do as you can explain your difficulties and wider circumstances. In these Covid times HMRC are listenting more sympathetically than usual.

You can make your own Time to Pay arrangement using your Government Gateway account, if you:

• have filed your latest tax return
• owe less than £30,000
• are within 60 days of the payment deadline
• plan to pay your debt off within the next 12 months or less

Self-Assessment Payment Helpline

Call the Self-Assessment helpline if you cannot make your own Time to Pay Arrangement online for your tax payments, for example, if you owe more than £30,000 or need longer to pay.

Self-Assessment Payment Helpline
Telephone: 0300 200 3822
Monday to Friday, 8am to 4pm

It’s usuall easier to get through early in the day.

For other taxes, contact the Payment Support Service, 0300 200 3835.