- If you have tax deducted at source, for example from wages or a pension, you could opt to have the balance collected through your tax code in the next tax year. However, you would need to complete your tax return before 30th December.
- Arrange a payment plan with HMRC’s Business Payment Support Service. HMRC would still charge interest on any outstanding amounts but they should waive any late payment penalties
By Jo Nockels
Disclaimer: Advice shared in this blog is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this forum, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.