Don’t forget to pay tax on or before 31 January 2020
08/01/2020

The 31 January 2020 is not just the final date for submission of your Self-Assessment tax return for 2018-19 but is also an important date for payment of tax due. This is the final payment deadline for any remaining tax due for the 2018-19 tax year. In addition, the 31 January 2020 is the payment date for any Capital Gains Tax due in relation to the 2018-19 tax year and the due date for the first payment on account for 2019-20.

If you do not have the necessary available funds to make these payments then you must be pro-active and deal with the issue as a matter of urgency. Pretending the problem does not exist will not make the problem go away and can only make matters worse as penalties and late payment charges may be payable.

The best way forward is for you to contact HMRC to apply for a payment plan and seek to agree a way forward. This can be done through the Payment Support Service (PSS). The PSS seeks to provide support to those experiencing a wide range of tax problems.

The services offered by the PSS depend on individual circumstances but can include:

  • agreeing instalment arrangements
  • suspending any debt collection proceedings
  • reviewing penalties for missing statutory deadlines
  • reducing any payments on account
  • agreeing to defer payments due to short-term cash flow difficulties

The PSS will review the issues raised and look sympathetically at providing a practical solution. HMRC will usually not charge additional late payment surcharges in relation to specific arrangements made using the PSS.


Diss Office

4b Church Street
Diss
Norfolk
IP22 4DD
Phone: 01379 640640
Fax: 01379 650459
Email: diss@newmans-online.co.uk

Beccles Office

7 Hungate
Beccles
Suffolk
NR34 9TT
Phone: 01502 711356
Fax: 01502 711627
Email: beccles@newmans-online.co.uk

Lowestoft Office

17 Surrey Street
Lowestoft
Suffolk
NR32 1LW
Phone: 01502 565857
Fax: 01502 515249
Email: lowestoft@newmans-online.co.uk

Newsfeed Search


Memberships

 

ICAEW White