Almost 25,000 Self Assessment customers have set up an online payment plan to manage their tax liabilities in up to 12 monthly instalments, totalling £69.1 million, HM Revenue and Customs (HMRC) has revealed today (13 January 2021).
In October, HMRC increased the threshold for self-serve Time to Pay arrangements from £10,000 to £30,000 for Self Assessment customers. Once they have completed their 2019 to 2020 tax return and know how much tax they owe, customers can use the self-serve facility to set up monthly direct debits and spread the cost of their tax bill.
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