Reminder: Early tax payment deadline approaches

January 10th, 2018
Tax Return Assessment

 

If you prefer to pay your tax bill with a personal credit card, then you MUST submit this payment by midnight on Friday 12 January to guarantee that the payment is fully cleared with HMRC ahead of the Saturday 13 January early repayment deadline.

After Saturday 13 January, HMRC will no longer accept payments by credit cards. This is because, under new regulations, they can no longer pass on the credit card processing fees to customers.

Other payment methods, including direct debit, debit card, faster payment and BACS, will still be accepted. Anyone who doesn’t want to pay by personal credit card, has until midnight on Wednesday 31 January to make a payment.

Any tax payments made after this date will be subject to the following late payment fines:

Miss filing deadlines – £100
30 days late – 5% of tax due
3 months late – Daily penalty £10 per day for up to 90 days
6 months late – 5% of tax outstanding at that date
12 months late – 5% of tax outstanding at that date

For more information on how these changes affect you, and what options are available, contact your local Champion office today.


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