HMRC has increased the threshold for paying tax liabilities in monthly instalments to £30,000 for Self Assessment customers to help ease any potential financial burden they may be experiencing due to the pandemic.
Self Assessment customers can apply online for additional support to help spread the cost of their tax bill into monthly payments from 1 October 2020 without the need to call HMRC. The online payment plan service can already be used to set up instalment arrangements for paying tax liabilities up to £10,000. From 1 October 2020, HMRC has increased the threshold to £30,000.
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