Unable to pay your tax on 31 January?
19/01/2010
As the deadline approaches for the submission of 2009 Income Tax Returns, and payment of any tax due, some taxpayers may be unable to meet their liabilities by the due date of 31 January 2010.
If time to pay is required, HM Revenue & Customs should be approached as early as possible, and before the tax becomes due for payment. Whilst you will still be charged interest on the amounts outstanding, it may be that additional penalties can be saved.
Provided you reach agreement before the surcharge of 5% is imposed on 28 February 2010, HMRC are likely to waive this however, once the penalty has been charged they will not consider mitigation.
Should you need any assistance in approaching HMRC please call the tax team