Setting up a payment plan
You may be able to set up a payment plan online, depending on which type of tax you owe and how much you owe.
If you owe tax from Self Assessment
You can set up a Self Assessment payment plan online if you:
If you owe employers’ PAYE contributions
You can set up an employers’ PAYE payment plan online if you:
If you owe tax from VAT
You can set up a VAT payment plan online if you:
You cannot set up a VAT payment plan online if you’re in the Cash Accounting Scheme, Annual Accounting Scheme, or you make payments on account.
If you cannot set up a payment plan online
You’ll need to contact HMRC.
They will ask you:
If you have savings or assets, HMRC will expect you to use these to reduce your debt as much as possible.
If you’ve received independent debt advice, for example from Citizens Advice, you may have a ‘Standard Financial Statement’. HMRC will accept this as evidence of what you earn and spend each month.
If your company is in tax debt
HMRC will ask you to propose how you’ll pay your tax bill as quickly as you can. They will ask questions about your proposal to make sure it is realistic and affordable for you.
You must reduce your debt as much as possible before setting up a payment plan. You can do this by releasing assets like stock, vehicles and shares.
HMRC may ask company directors to:
Our friendly and helpful approach to accountancy, ensures that you understand and are in tune with your finances. Our committed team will communicate with you every step of the way so that you understand the position of your financial affairs – get in touch today.