10-day warning issued over £100 HMRC fines - Birmingham Live

10-day warning issued over £100 HMRC fines - Birmingham Live

HMRC has encouraged people to use one tool ahead of an essential Self Assessment deadline on January 31 - in 18 days.

What to do if you can’t pay your Self-Assessment tax bill on time?

The deadline for your Self-Assessment tax bill is just over a week away and you may find yourself under increasing pressure if you cannot pay it. While this situation can be overwhelming, ignoring the problem will only make it worse. Late payments will cause penalties and interest charges and you must understand how to prepare a clear payment plan that is compliant with HMRC’s requirements. Why do you need to contact HMRC? If you know you won’t …

What are the financial risks of paying my Self-Assessment tax bill late?

With the Self-Assessment deadline now just over a week away, failing to pay your tax bill on time can put you at risk of further costs and penalties. Not understanding the financial implications and ongoing deadlines could be a costly mistake. Late payments will cause penalties and interest charges and you must understand how to prepare a clear payment plan that is compliant with HMRC’s requirements. Why should you contact HMRC first? If you kno…