Paying Self Assessment Tax and National Insurance liabilities.
The deadlines for paying your tax bill are usually:
31 January – for any tax you owe for the previous tax year (known as a balancing payment) and your first payment on account
31 July for your second payment on account
Be sure to have your Unique Tax Payer Reference (UTR to hand) this can be found on any HMRC correspondence or your Tax Computation or Tax Return.
Ways to pay:
Through your online bank account
Online or telephone banking (Faster Payments)
CHAPS
by debit or corporate credit card online
Direct Debit
by cheque through the post you’ll need to print a payslip
You can make weekly or monthly payments towards your bill, if you prefer.
You can get help if you cannot pay your tax bill on time. Contact HMRC now
Paying VAT
Before you pay your VAT bill, make sure your deadline has not passed. Your deadline will be shown on your VAT return.
Make sure your payment will reach HM Revenue and Customs’ bank account by the deadline. You may have to pay a surcharge if you do not pay on time.
Paying Corporation Tax
You cannot pay corporation tax by post.
Be sure to have your full reference to hand this can be found on the payslip HMRC send annually, shortly after the end of your accounting period.
Paying Capital Gains Tax
You’ll need a Government Gateway user ID and password to set up your account or sign in. If you do not have a user ID, you can create one the first time you sign in. After we have reported your gain we will supply you with you a 14-digit reference number starting with ‘x’ and the deadline to pay by.
Paying Employers PAYE tax
You must pay your PAYE bill to HM Revenue and Customs (HMRC) by:
– the 22nd of the next tax month if you pay monthly
– the 22nd after the end of the quarter if you pay quarterly – for example, 22 July for the 6 April to 5 July quarter
– If you pay by cheque through the post, it must reach HMRC by the 19th of the month.
Pay online
You’ll need to use your 13-character accounts office reference number as the payment reference. This can be found on your P32 report we have sent you. If not you can find this on either:
– the letter HMRC sent you when you first registered as an employer
– the front of your payment booklet or the letter from HMRC that replaced it
– You need to add 4 extra numbers to the end of your 13-character accounts office reference number each time you make an early or late payment. If you use this service, it will work out the numbers for you.
https://www.gov.uk/pay-paye-tax
Payment booklets
You’ll need a payment booklet from HMRC to pay at your bank or building society, or by post. If you do not have one, ask HMRC to send it to you.
HMRC will automatically stop sending your payment booklet if you make 2 or more electronic payments in a year.
Direct Debit – NEW!
The service can be accessed through Pay employers’ PAYE or directly through your business tax account and the employers PAYE service.
Follow the new ‘Set up a Direct Debit’ authorising HMRC to collect directly from their bank account based on the return submissions.
