Deferring your Self Assessment payment on account

HMRC have announced that it is possible to delay making your second payment on account for the 2019-2020 tax year due to the current situation with the coronavirus pandemic.

You have up to 31 January 2021 to make your second payment on account and will not be charged interest or incur penalties, nor are you required to inform HMRC that you will defer the payment.

However, we would advise our clients to meet the payment on 31 July if you are in a position to do so, in order to keep on top of your tax liability.

If you have any questions about this, please do not hestitate to contact your Tax Adviser.