Over 142,000 customers have used HMRCof the online Time to Pay feature to split the cost of their self-assessment tax bill since April 2021, HM Revenue and Customs (HMRC) found.
The self-assessment deadline for 2020 to 2021 tax returns was January 31, but this year HMRC gave customers until April 1 to pay any tax owed and not face penalties.
Customers who were unable to pay in full but had a tax bill of less than £30,000 could use the Time to Pay online service to split the cost into manageable monthly instalments. Those who owed more than £30,000 or needed more time to pay could still use Time to Pay, but they had to contact HMRC to arrange it.
Since April 2021, self-assessment customers have used the service to pay taxes worth nearly £475million in installments.
Myrtle Lloyd, HMRCThe Managing Director of Client Services, said:
“I want to thank the millions of clients and agents who have sent us their tax returns and paid their tax bills.”
All self-assessment customers who have not paid their outstanding tax by April 1 will now face a late penalty of 5% on any outstanding tax.
Clients wishing to file their 2021/22 tax return can do so from April 6, 2022. Last year, more than 63,500 clients filed their 2020 to 2021 tax return on the first day of the tax year .
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From February 1, 2022, all amounts due were subject to interest.
The latest self-checkout deadline figures are for arrangements put in place during the 2021 to 2022 tax year and are through April 3, 2022.
A late penalty of 5% was to be applied if the tax remained due and no payment plan had been put in place, before midnight on April 1, 2022. Further late penalties will be charged at the usual periods of 6 and 12 months (August 2022 and February 2023 respectively) on outstanding tax due where a payment plan has not been put in place.
11.3 million customers filed their 2020 to 2021 tax returns by February 28, 2022.
