Budget Payments For Tax

 
 

As long as you’re up to date with your payments and don’t have any outstanding returns you can set up a budget payment plan with HMRC.

Some people are super organised so they set up a separate bank account and have no problem setting an amount to one side and leaving it there. Some of us are also too busy although I do get a headache when I have to make large tax payments in one go. So, paying a bit at a time keeps the stress level lower and it means there is less of the psychological shock at the ends of January or July.

Some people just like to know things have been paid or just like to have smoother cash flow but either way you are still paying the same amount.

If you’re thinking this is something you’d like to do all your tax affairs must be up to date and no taxes overdue. The full details can be found on this link. https://www.gov.uk/pay-self-assessment-tax-bill/pay-weekly-monthly