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Paying taxes after Coronavirus

Many people and businesses will have recently received a letter from HMRC updating them on their requirements to pay taxes moving forwards. For some the ability to defer payments has been very welcome but ultimately the tax still needs to be paid.

As HMRC advise in their letter “Coronavirus has damaged the UK economy, so we need to collect tax debts to help it recover and fund vital public services“. They do however recognise that it’s difficult for some, adding ‘we know that COVID-19 may have affected your financial situation too, so we want to work with you“.

In summary, their letter says, if you can pay now, please do. If you can’t, please contact us to arrange a mutually acceptable payment plan.

To pay now:

Go to https://www.gov.uk/topic/dealing-with-hmrc/paying-hmrc to find out how to pay self-assessment, corporation tax, VAT etc

If you can’t pay now:

Contact HMRC on 0300 200 3845 to speak to one of their Customer Support Advisors to work out a payment plan.

We would always recommend our clients contact HMRC sooner rather than later to make arrangements otherwise you will incur late payment penalties and interest will be charged.

You can read more about some of the other support available here and if you have any queries, do please get in touch.