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CHANGES TO THE WAY YOU PAY YOUR TAX

What you need to know.

  • From December 2017 current payslip based Transcash payment service will be withdrawn
  • From 15 December 2017 HMRC payslips no longer accepted at Post Office counter
  • Customers will need to engage with HMRC digitally and electronically

In recent years, HMRC has seen a reduction in the amount of total payments being received from the post office, therefore, have been encouraging all customers to pay by electronic methods. These payment methods reduce the risk of getting lost or intercepted and are updated to customers’ accounts quickly, provided the correct bank details and payment reference are used.

Paying electronically gives businesses and individuals better control of their money as it provides certainty about when the payment will reach HMRC. Customers can be more confident that the payment will reach HMRC on time –no postal delays or costs.

This change will affect any individuals paying their Self-Assessment Tax, overpaid tax credits and national insurance contributions (if not paid through Self-Assessment) and businesses paying Corporation tax or PAYE. If you do receive a payment slip from HMRC then currently you still have the option to pay this at your local bank or building society but this could change as HMRC encourage customers to pay online.

The option to pay by debit or credit card has been avaiable for some time, all you need is your UTR number (Unique Tax Reference) when you contact HMRC.

Further details of how to pay your tax to HMRC can be found on the HMRC website – HMRC.gov.uk

Remember, HMRC will never contact you by email unless you have registered in advance!

If you need any guidance on this then feel free to drop us a line 01508 571432 or hello@aldous-saunders.co.uk

2017-11-06T12:23:16+00:00 October 17th, 2017|Tax Tips|