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Need a solution for paying tax to HRMC
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razord said:MattMattMattUK said:Dazed_and_C0nfused said:Not sure quite where the 3% has come from, it's currently 6.0% and is increasing to 6.5% shortly.
https://www.gov.uk/government/publications/rates-and-allowances-hmrc-interest-rates-for-late-and-early-payments/rates-and-allowances-hmrc-interest-rates
The most important deadline is the end of the month, if you haven't paid by then a late payment penalty can be charged. Currently 5% of what's unpaid.
https://www.gov.uk/government/publications/self-assessment-appeal-against-penalties-for-late-filing-and-late-payment-sa370/self-assessment-how-to-appeal-against-penalties-for-late-filing-and-late-payment
If you take a time to pay deal, the interest rate is 6% (->6.5%)The repayment interest rate compensates taxpayers fairly, when they overpay or pay early, for loss of use of their money.
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I have never learned about Money Transfer cards. I'm rearching now as it sounds like an option, unless I'm missing something. I wonder why no one else mentioned it on this thread?
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sterling30 said:I have never learned about Money Transfer cards. I'm rearching now as it sounds like an option, unless I'm missing something. I wonder why no one else mentioned it on this thread?0
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sterling30 said:I have never learned about Money Transfer cards. I'm rearching now as it sounds like an option, unless I'm missing something. I wonder why no one else mentioned it on this thread?2
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OP, if you do decide to go down the Money Transfer card route - and you're happy to pay the transfer fee - then you must make sure you'll be able to pay off the card in full by the time the promotional rate expires. If you've got any balance remaining on the card after the promo expires it will start accruing interest at the card's standard APR, which is usually a fairly hefty rate.You may be able to transfer any remaining balance to another 0% card, but it's not a wise move to automatically assume you'll be able to do so.1
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sterling30 said:I have never learned about Money Transfer cards. I'm rearching now as it sounds like an option, unless I'm missing something. I wonder why no one else mentioned it on this thread?
But you will pay a hefty % fee on the amount.Life in the slow lane1 -
I won't be going down the money transfer route.
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Have you actually called HMRC to talk about the money you owe them?
Posting a SOA on the debt boards is also a good suggestion, the people over there may be able to help you find ways to cut / better control your outgoings - which could help you tackle this (and save for next year's bill).1 -
Emmia said:Have you actually called HMRC to talk about the money you owe them?
Posting a SOA on the debt boards is also a good suggestion, the people over there may be able to help you find ways to cut / better control your outgoings - which could help you tackle this (and save for next year's bill).I will today. I've been putting it off.Controlling outgoings was the first plan, so that's done.0
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