How can I pay my Self Assessment Tax?
You've got an accountant to help you file your tax but how do you actually make the payment once that's done?
It's a question we get a lot at Valued. So we put together this quick guide to explain how:
If you have a government gateway account you can log in to pay your tax. This way you can view how much is owed and keep track of what you have paid.
https://www.gov.uk/pay-self-assessment-tax-bill
Follow the above link and click on the green 'pay self assessment now' button.
It asks for your UTR number, you can find this on your tax return.
It asks for the amount you'd like to pay: you can pay your tax in full or if you are before the payment deadline you can choose an amount you’d like to pay.
It gives you 3 options to pay, 1 straight from bank (this is online banking) 2. Direct debit and 3.debit or credit card, If you choose to pay by card:
Enter your address which your payment card is registered to, enter your email address for confirmation of payment,
Look over what you have entered and confirm they are correct,
Enter the name on the card, long card number, expiry date and the 3 digits on the back of the card. Then confirm what you have entered and click 'pay now'
You should receive a confirmation email to say all has gone through correctly.
You can also set up a direct debit with HMRC, pay through bank transfer or by cheque in the post.
If you cannot pay in full use HMRC's payment plan's to split your tax into 5 or 6 monthly payments. You can arrange this through your government gateway of by calling them on 0300 200 3835
That's it! Done.
If you have any more questions about tax or other accounting issues. Feel free to get in touch.