- HMRC reminds taxpayers about setting up a monthly payment plan if unable to pay tax bill in full by 31 January 2024
- Individuals owing less than £30,000 with no other payment plans or outstanding debts to HMRC may be able to set up the plan online
- Interest will be applied to outstanding balances from 1 February
- Late payment penalties can be avoided by agreeing to a time to pay arrangement with HMRC within 30 days of the deadline.
Source: icaew.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
