Tax Bill in Installments?

buckman

ive just had my tax bill to be paid by 31st Jan 2009.. as i am self-employed

Is there anything in place with the current economic climate for people to pay their tax bill in monthly installments??

Im sure i heard the government mention something on this?

Also if this is possible would it be interest free without penalties for paying monthly?

thanks

Mister_E_4

See this link#
http://www.hmrc.gov.uk/pbr2008/business-payment.htm

You can pay in instalments and the Revenue are very accommodating as far as I gather. Interest will still be charged but you can avoid the 5% surcharge which would be due end of February if you do not ask for instalments.

golfball13

I did this last year, get on the phone early, and have in mind the amount you can pay each month.

For next year, it's worth putting some money aside each month for the tax bill

Rob