44,800 customers opt to spread the cost of Self Assessment tax bills

Nearly 44,800 Self Assessment taxpayers have set up a payment plan with HMRC to settle near £148 million of tax bills ahead of the 31st January deadline.

More than 7.7 million Self Assessment customers have already filed their tax return for the 2022 to 2023 tax year, but HM Revenue and Customs (HMRC) is reminding anyone who still needs file a return or pay their tax bill should do so before the deadline on 31st January or risk facing a penalty.

Those who are unable to pay in full are being advised check online to see if they can set up a monthly ‘Time to Pay’ payment plan if they owe less than £30,000. Interest will be applied to any outstanding balances from 1 February.

Myrtle Lloyd, HMRC’s Director General for Customer Services, said:

“We want to help Self Assessment customers meet their obligations and there is no time like the present to choose the right payment option for you. Whether you choose to pay in instalments, via the HMRC app or using online banking, search ‘pay your Self Assessment tax bill’ on GOV.UK for a full list of options.“

In addition to those who have set up an online payment plan, in December 2023, 28,794 customers used the free and secure HMRC app to pay more than £42 million in tax owed. Customers can also receive a tax refund via the app. They should include their bank account details when filing, so that if HMRC needs to make a repayment, they can do so quickly and securely.

For those who pay their current estimated tax bill via Payment on Account, the first instalment for the 2023 to 2024 tax year is due on 31 January.

A full list of payment options can be found on GOV.UK. There is also a video that explains a customer’s Self Assessment tax bill and the different ways to pay.