The Self Assessment Tax Deadline looms on 31st January 2018- only 15 days away!
2018 Tax Deadlines:
31 January – for any tax you owe for the previous tax year (known as a balancing payment) and your first payment on account.
31 July for your second payment on account. If you prefer to pay regularly throughout the year, you can use a budget payment plan.
Ways to pay your tax
Make sure you pay HM Revenue and Customs (HMRC) by the deadline. You’ll be charged interest and may have to pay a penalty if your payment is late.
The time you need to allow depends on how you pay:
- You can no longer pay at the Post Office.
- Same or next day
online or telephone banking (Faster Payments)
by debit or credit card online
at your bank or building society
You need a paying-in slip from HMRC to pay at a bank or building society.
- 3 working days
Direct Debit (if you’ve set one up with HMRC before)
by cheque through the post
- 5 working days
Direct Debit (if you haven’t set one up with HMRC before)
If the deadline falls on a weekend or bank holiday, make sure your payment reaches HMRC on the last working day before (unless you’re paying by Faster Payments or by debit or credit card).
Problems with payment services- beware online payment services are frequently slow during busy times.
Overall the sooner that you compile your tax return, file it online and make your payments the better.
Please talk to us at ESB Accountancy to discuss the filing of your tax returns and the benefits of planning ahead – with several decades of financial experience here in Gloucestershire you can either ring us now on – email us on email@example.com or click the Contact Us buttonor please fill the form at the bottom of the contact us page.