If you didn’t send a paper tax return to HMRC before the 31 October deadline you’re required to file your return (and pay any income or capital gains tax owed) using HMRC’s online services before 31 January.
How to Pay HMRC Online
Paying HMRC online ensures your payment will reach them on the same day (or the next day, at the latest), even during weekends and bank holidays.
You must make your payment into one of two accounts; HMRC Cumbernauld or HMRC Shipley. HMRC will have made it obvious which account you’re required to pay into, but if you’re unsure you should always opt to pay into HMRC Cumbernauld.
- HMRC Cumbernauld: Sort Code 08 32 10, Account Number 12001039
- HMRC Shipley: Sort Code 08 32 10, Account Number 12001020
Regardless of the account you’re paying into, it’s essential that you include your 11-character payment reference number when making your payment. This is easy to remember as it’s your ten-number long Unique Taxpayer Reference (UTR), followed by the letter K (for example: 1234567891K). It can also be found on the original payslip HMRC sent you when you opened your online account.
To pay your income and capital gains tax bill online you must sign up for BillPay; HMRC’s online payment service. Using BillPay guarantees that HMRC will accept your payment the day you make it (not the day they receive it, if different). Paying your bill with a debit card is free, but credit card payments incur a 1.4% fee.
If you’re unconvinced of the benefits of paying HMRC online it’s still possible for you to make an offline payment for an online tax return.
You can pay from your bank, building society, or your local post office by cash, cheque, or debit card (post office only).
If paying by cheque you must write it out payable to ‘HM Revenue and Customs only’ followed by your Unique Taxpayer Reference (UTR). You’ll also need the payslip on the bill HMRC sent you.
You can also post a cheque to HMRC. Send your cheque (configured as above) and the payslip from the bill HMRC sent you to:
HM Revenue and Customs
Your inability to pay your tax due doesn’t affect your ability to complete your return on time. For this reason it’s important that you file your tax return online before the 31 January 2015 deadline, after which you should get in touch with your accountant (and HMRC) to discuss an individual payment plan.
How to Save Money on Your Tax Return
There are many ways to save money on your tax return, a number of which you may have never considered if your accountant hadn’t been around to point them out to you.
Earlier this year we wrote about our top money-saving recommendations when filing your tax return, all of which are worth reading through again if you’ve not yet filed, as is our article on the top ten ways to pay less tax. If you’re short of time, however, we recommend you call your accountant as they will ensure you maximise your personal allowances and take advantage of any tax savings available.
Experienced Tax Accountants
To speak with a professional to discuss your payments to HMRC (both online and offline), contact us today on 020 7129 1199 or get in touch with us via our contact page to arrange a complimentary, no obligation meeting.