Deferring Income Tax Payments

All Income Tax payments on account due on 31 July 2020 can be automatically deferred to 31 January 2021.

No interest will be charged during the deferral period, nor will there be any late payment penalties.

It has also been announced that all self-assessment taxpayers will be able to benefit from an additional 12-month extension on the “Time to Pay” self-service facility, meaning tax payments deferred from July 2020, and those due in January 2021, will now not need to be paid in full until January 2022. Taxpayers with tax bills of up to £30,000 can apply online to spread the cost across 12 months. However, unlike the previous deferral, please note that interest will be charged on the amounts outstanding from 1 February 2021 until paid.

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