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Posted January 5, 2018

How To Pay Your Self Assessment Tax Bill

Self-Assessment TaxAs the 31st January deadline looms, we recommend paying your self assessment tax bill early to avoid missing the deadline due to unforeseen circumstances. The payment amount due for 31st January is available on your tax computation.

This is a link to the HM Revenue & Customs website which details the various ways in which you can pay your tax bill: https://www.gov.uk/pay-self-assessment-tax-bill

Paying your self assessment bill

For same or next day payments use:

  • Online banking (Faster payments)
  • Telephone banking (Faster payments)
  • CHAPS
  • Debit card online
  • Credit card online (only until 13/01/18, and there is a non-refundable fee)
  • At your bank or building society (with a paper statement and paying-in-slip from HMRC) Bank payments made from overseas may take longer and so we recommend checking the timings with your bank.

For payments that take up to 3 working days use:

  • BACS
  • Direct debit (if previously set up)
  • Cheque by post (Can request receipt from HMRC in a letter)

For payments that take up to 5 working days use:

  • Direct Debit (if not previously set up)

Your HMRC online account will show you’ve paid your tax bill 3 to 6 working days after payments.

As there could potentially be issues with the HMRC website nearer the deadline, they have created a page to check this: https://www.gov.uk/government/publications/self-assessment-service-availability-and-issues

If your payment is late you will be charged interest and may have to pay a penalty.

The information contained above is provided for information purposes only and is not intended to amount to advice on which reliance should be placed. We therefore disclaim all liability and responsibility arising from any reliance placed on such information. Professional advice should be obtained before taking or refraining from taking any action as a result of the above contents.