If you can’t afford to pay your self-assessment tax bill in full, you can set up a payment plan to spread the cost providing that:
- Your tax returns are up to date
- You owe £30k or less
- You don’t have any other payment plans or debts with HMRC
You can choose how much to pay straight away, and how much you want to pay each month. You will have to pay interest.
HMRC’s online service will enable you to arrange the instalments without the need to discuss it with HMRC staff, or provide details of current income and expenditure. You must set up your instalment plan within 60 days of the payment due date.