Ideally, you’ll have a separate account to set aside money for your tax bill so when HMRC’s deadline arrives, you’re ready.
But life doesn’t always go to plan!
If you’re short on cash when payment’s due, don’t panic. If your tax return’s been filed (we do this for our clients), your bill’s under £30,000, and you can pay it off within 12 months, you can set up a Self Assessment Payment Plan through your Government Gateway account — as long as you’re within 60 days of the deadline.
If you owe more than £30K, call the HMRC helpline for guidance.
And if you’re struggling, talk to us or visit HMRC’s website (link in bio).
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