More than 142,000 customers have used HMRC’s online Time to Pay feature to split the cost of their self-assessment tax bill since April 2021, HM Revenue and Customs (HMRC) has revealed.
The self-assessment deadline for 2020/21 tax returns was January 31 but, this year, HMRC has given customers until April 1 to pay any tax due and not face penalties.
Customers who were unable to pay in full but had a tax bill of less than £30,000 could use the Time to Pay online service to split the cost into manageable monthly instalments. Those who owed more than £30,000 or needed more time to pay could still use Time to Pay, but had to contact HMRC to arrange it.
Since April 2021, Self-Assessment customers have used the service to pay almost £475 million in tax in installments.
Myrtle Lloyd, Director General of Client Services at HMRC, said:
“I want to thank the millions of clients and agents who have sent us their tax returns and paid their tax bills.”
All self-assessment customers who have not paid their unpaid tax by April 1 will now face a late penalty of 5% on any unpaid tax.
Clients wishing to file their 2021/22 tax return can do so from April 6, 2022. Last year, more than 63,500 clients filed their 2020/21 tax return on the first day of the tax year .