Reminder: Deferring your second self-assessment payment on account.
If your second payment on account is due to HMRC, this Friday 31st July, then you have the option to defer.
You can still make the payment by 31st July 2020 as normal if you want to do so.
If you choose to defer you do not need to tell HMRC that you’re deferring your payment, it’s an automatic offer.
Choosing to defer will not stop you from being entitled to other coronavirus support that HMRC provides.
You will need to make your second payment on account on or before 31 January 2021 if you choose to defer.
You can pay this second payment on account bill in full any time between 31st July 2020 and 31st January 2021 using HMRC’s online service.
If you want to pay in instalments
You need to contact HMRC if you already have overdue tax which you’re paying through a Time to Pay instalment arrangement and want to include your second payment on account in that arrangement.
If you do not have other overdue taxes, you can make your payment in instalments any time between now and 31 January 2021 by setting up a budget payment plan.
This is an automatic deferral, but our team are here if you would like to discuss your options or to offer further guidance.
Contact us on 01202 880384 or email@example.com
If you are looking for guidance and further updates our full Business Briefings can be found here.
Chartered Accountants & Business Advisors