Accounting for Businesses and Individuals

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Advice, Tips, and Resources

Paying Self-Assessment

Self-Assessment Payment Deadlines

You must pay the balance of any tax you owe by 31st January. This is also the date when you may have to pay the first of two 'payments on account' towards your next

tax bill. The second payment on account deadline is 31st July, 2017.

Online Debit or Credit Card

You can pay your self-assessment tax online. HMRC will accept your payment on the date you make it, not the date it reaches their account, including on bank holidays and weekends. There is, however, a fee if you pay by credit card. Follow this link to make an online payment. Use your 10-digit unique taxpayer reference (UTR) followed by the letter ‘K’ as your payment reference.

Bank Details for Online or Telephone Banking, CHAPS, and BACS

Your bill will tell you which account to pay into. If you don’t have a bill, or you are not sure, use "HMRC Cumbernauld". You’ll need to use your 11-character payment reference when you pay. This is your 10-digit unique taxpayer reference (UTR) followed by the letter ‘K’.

Account Details to Use:

Paying at Your Bank, Building Society, or Post Office

You can only pay at your branch if you still get paper statements from HMRC and have the paying-in slip HMRC sent you. if you don’t have a paying-in slip, you’ll need to pay by another method. Make your cheque payable to “HM Revenue and Customs Only” followed by your reference number - this is your unique taxpayer reference (UTR) followed by the letter ‘K’.

By Post

HMRC recommends that you pay your self-assessment tax electronically. If you do need to pay by post, please:

  • Make Your Cheque Payable to “HM Revenue & Customs Only” Followed by Your UTR
  • Allow at Least Three Working Days for Your Payment to Reach HMRC 
  • Send Your Payment to: HMRC, Direct, BX5 5BD

For further details about making a payment to HMRC, visit the government website.

Paying Corporation Tax

HMRC have stopped sending company tax return payslips. HMRC used to send this paper

payslip to companies and authorised agents when a company tax return had been filed. However, they have stopped issuing this payslip and are prompting customers to check CT Online, where they can see their return details. HMRC are still serving a ‘Notice to Deliver a Company Tax Return’ after the financial yearend, which contains your 17-digit payment reference. It’s important to keep this letter each year as the reference changes.

Corporation Tax Deadlines

Make sure you pay HM Revenue and Customs (HMRC) by the deadline. Your corporation tax payment is normally due nine months and one day after the end of your accounting period. So, if your company tax return covers the accounting period of 1st January, 2016 to 31st December, 2016, then corporation tax must be paid no later than 1st October, 2017.

Online Debit or Credit Card (Three Working Days)

If you have a debit or credit card from a UK-based card issuer, you can pay your corporation tax online. You will also require your 17-digit pay reference to make payment. The first 10 digits of this reference are made up of the unique tax reference. Your reference number is specific to the accounting period you are paying, so please quote it exactly. If you don't know your specific reference for the accounting period and you want to pay, you should contact HMRC on 0300 058 3945 or make an online payment via the government website.

Bank Details for Online or Telephone Banking, CHAPS, or BACS (Same Day)

You will also require your 17-digit payslip reference to make payment. The first 10 digits of this reference are made up of the unique tax reference. If you’re not sure what tax office is allocated to your company, please use Cumbernauld.

Cash or Cheque at Your Bank or Building Society

You’ll need to use the payslip that HM Revenue and Customs (HMRC) sends you. Make your

cheque payable to “HM Revenue and Customs Only” followed by your 17-character corporation tax pay reference for the accounting period you are paying. Allow three working days for your payment to reach HMRC’s bank account.

For more information about making a payment to HMRC, visit their website.

Fee Protection Insurance

Accord Accountants offers insurance to cover the extra accountancy fees associated with handling taxation enquiries by HMRC. Fees can mount up, especially if an enquiry becomes lengthy. Fee protection insurance will cover these fees, meaning lower costs for you and making sure the investigation is dealt with quickly, effectively, and with the best outcome for you.

Contact our accountants now, in Eastleigh, Hampshire, for more advice, tips, and

resources.