instalments

hutchy10

I have been very bad and not saved enough tax!

I had a great year but the last 6 months have not been good. I have reduced my payments on account but still owe £3250.

I can give them £500 and offer to pay around £150 a month. I am worried they will not accept as it overlaps next year etc etc.

Scared!!!! Help!!

Mikeyorks

Ordinarily I would say that HMRC won't accept that offer .... for the reasons you outline .... ie you're not appearing to keep pace with continuing liability.

But we're not in ordinary times .. so they may accept the offer for a period with a review in a few months?

But anything you get on here is fairly useless conjecture. If the business is dipping then you seem to be in touch more than most in reducing POAs (don't overdo it ... otherwise you'll be charged interest if you undershoot) etc. So you now need to talk with them on the dedicated line they've set up :

http://www.hmrc.gov.uk/pbr2008/business-payment.htm

...... but ring them now .... don't wait until it's overdue.

hutchy10

Thanks. The issue is that I am an individual so not sure I can use this business line?

mummytummy

Ring them, we were in a similar position, contacted the hmrc have paid a lump sum and paying the remainder off over the next 12 months by direct debit they also said that if we have difficulty with the payment due 31st July to contact them again.

Hope this helps you, its certainly helped us and taken away some of my worry.

hutchy10

thanks. will call them

Mikeyorks

hutchy10 wrote: »

Thanks. The issue is that I am an individual so not sure I can use this business line?

Yes, you can. Don't worry about the terminology - had you read further you would have found it covers payment becoming due for :

It covers most taxes and duties including Income Tax, Corporation Tax, VAT, PAYE and National Insurance.

.. your SA liability falls under 'Income Tax' (and probably also part under National Insurance).