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Payment difficulties

06 January 2015 / Gillian Wrigley , Kelly Sizer
Issue: 4483 / Categories: Comment & Analysis , Admin , Self assessment
wrigley_edit

How to help clients who struggle to settle their self assessment bills

KEY POINTS

  • Establish what tax is due on 31 January; it may not include the balancing payment.
  • Penalties may be imposed under FA 2009 Sch 56 for late payments.
  • A reasonable excuse or special circumstances may persuade HMRC to reduce the penalty.
  • Taxpayers have various options as to how to pay tax.
  • Time-to-pay arrangements should be made before any penalty becomes due.

How many of us overindulge at Christmas and then trip back to the office promising to tighten our belts – both in terms of health and finance?

The same is probably true of many clients. Some will have had unexpected expenses for other reasons perhaps a major repair bill; others will have received less cash than expected from their customers.

If they are going to...

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