25 June 2020 - Self Assessment payments due on 31 July 2020

You may have noticed that HMRC have recently been issuing statements on account confirming tax liabilities as due.

The second payment on account, usually due by 31 July 2020 is now due by 31 January 2021 and this is reflected on the recent statements.

As a result we will not be sending out the usual July 2020 payment reminder letters at this time, however please do not hesitate to contact us if you wish to discuss a recent statement you have received or would like further guidance.

Where these statements are received directly by us, as the agents, we will ensure that these are forwarded to you for your records.

You have the option to defer your second payment on account if you’re:

  • registered in the UK for Self Assessment and
  • finding it difficult to make your second payment on account by 31 July 2020 due to the impact of coronavirus

You can still make the payment by 31 July 2020 as normal if you wish to do so.

HMRC will not charge interest or penalties on any amount of the deferred payment on account, provided it’s paid on or before 31 January 2021.

If you choose to defer:

You do not need to tell HMRC that you’re deferring your payment on account.

Choosing to defer will not stop you from being entitled to other coronavirus support that HMRC provides.

You must make your second payment on account on or before 31 January 2021 if you choose to defer. Other payments you may have to make by this date include any:

  • balancing payment due for the 2019 to 2020 tax year
  • first payment on account due for the 2020 to 2021 tax year

You can check payments you need to make towards your next tax bill by signing in to your online account.

If you want to pay in full:

You can pay your second payment on account bill in full any time between 31 July 2020 and 31 January 2021 using the online service.

You will need to use your 10 digit UTR to ensure that the payment is allocated correctly.  

If you have any queries please do not hesitate to contact us here.

 

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