Paying Your Self Assessment Tax
If you complete a Self Assessment tax return, your payment deadlines are:
31 January – for your main tax bill and first payment on account
31 July – for your second payment on account
You’ll need your Unique Taxpayer Reference (UTR) to complete the payment. This can be found on your tax return, tax computation, or any HMRC correspondence.
If you cannot pay your Self Assessment bill on time, HMRC may charge interest or penalties. But help is available. You may be able to arrange a Time to Pay agreement and avoid further action.
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 paying your VAT, check the payment deadline shown on your VAT return. Make sure your payment reaches HMRC’s bank account by this date to avoid a surcharge or interest.
Use your VAT registration number as your payment reference and always double-check your account details to avoid connection issues or delays.
Need help completing your VAT return? Speak to our accountants today.
Paying Corporation Tax
You must pay your Corporation Tax electronically, you cannot pay by post. Payments are usually due nine months and one day after the end of your accounting period.
To make the payment, you’ll need the 17-character Corporation Tax reference found on your payslip or HMRC’s annual notice.
Paying Capital Gains Tax
If you’ve sold a UK property, you may need to pay Capital Gains Tax (CGT). You’ll need a Government Gateway user ID and password to report the gain online.
Once your gain has been submitted, we’ll provide a 14-digit reference number (starting with ‘X’) and a payment deadline.
More Information: GOV – Report and pay CGT
Paying Employers’ PAYE Tax
Employers must pay their PAYE tax by:
- The 22nd of each month (if paying monthly)
- The 22nd after each quarter ends (if paying quarterly)
- If paying by cheque, it must reach HMRC by the 19th
You’ll need your 13-character Accounts Office reference number, which can be found on your P32 report, registration letter, or payment booklet.
To pay online, you must add 4 extra digits to this reference to reflect the period being paid.
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.
New: Set Up a Direct Debit With Your Bank Account for PAYE
You can now set up a recurring Direct Debit to pay your PAYE tax. Use your business tax account and follow the link to ‘Pay Employers’ PAYE’. HM Revenue and Customs will collect payments based on your submitted returns.
If you’re switching from manual to electronic payments, note that HMRC will stop sending payment booklets after two or more digital payments.
What If You Can’t Pay Your Tax Bill?
If you’re struggling to pay your tax bill, it’s important to act quickly. We’re all human, and sometimes we make mistakes. HMRC may allow you to:
- Set up a payment plan
- Pay money in monthly or weekly instalments
- Avoid penalties or charged interest with early communication
Speak to our team as soon as possible. We can contact HMRC on your behalf and explore a professional solution tailored to your situation.
Need Help Paying Your Taxes?
At M Wasley Chapman & Co, we support individuals and businesses across the UK with tax returns, accounting, and payment advice. Whether you’re unsure what you owe or need help setting up a payment plan, our team is here to guide you through the process before proceeding with any action. We’ll respond quickly and get you heading in the right direction.
