HMRC Debt

happy2017

Hoping someone will be able to help advise on the best way forward relating to debt with HMRC.

I'm currently in a self managed DMP and the below is what is owed and monthly payments.  

Tax Credits Overpayment from 2016
Balance £2,500
Monthly payment of £10.00

Underpayment of tax 2020-2021
Balance £2,800
Monthly payment of £20.00
This was due to taking redundancy and was taxed quite high so requested tax rebate n the condition I wouldn't be working again in that tax year.  Due to circumstances a few month after receiving the tax rebate I needed to begin working again.

Child Benefit Repayment for 2022-2023 High Income
Balance £1,849
For this my tax code has been amended to 891L so it can be recovered monthly, I initially thought I would be ok but it will put financial strain on me.

I'm wondering if i should contact HMRC and see if it can all be grouped into one debt and one payment made.....do you think that is possible?

Any advice would be greatly appreciated thanks.

MattMattMattUK

happy2017 said:

Hoping someone will be able to help advise on the best way forward relating to debt with HMRC.

I'm currently in a self managed DMP and the below is what is owed and monthly payments.  

Tax Credits Overpayment from 2016
Balance £2,500
Monthly payment of £10.00

Underpayment of tax 2020-2021
Balance £2,800
Monthly payment of £20.00
This was due to taking redundancy and was taxed quite high so requested tax rebate n the condition I wouldn't be working again in that tax year.  Due to circumstances a few month after receiving the tax rebate I needed to begin working again.

Child Benefit Repayment for 2022-2023 High Income
Balance £1,849
For this my tax code has been amended to 891L so it can be recovered monthly, I initially thought I would be ok but it will put financial strain on me.

I'm wondering if i should contact HMRC and see if it can all be grouped into one debt and one payment made.....do you think that is possible?

Any advice would be greatly appreciated thanks.

Having had a quick look at your posting history I think it might be time to complete and post a full SOA and let people on here help you properly. 
https://www.lemonfool.co.uk/financecalculators/soa.php

fatbelly

As these are priority debts, it sounds like you have arranged some good payment plans, provided these are affordable.

Are they?