Hopefully you have all now paid any tax due against your 2019 Self Assessment Tax Return, but if you haven’t here is a gentle reminder about why you must do so by the 28th February 2020.
- HMRC will automatically charge interest from 1st February on all late payments
- HMRC will add a fixed 5% surcharge to all unpaid tax outstanding at 28th February
- Paying late can increase the risk of being selected by HMRC for investigation
We recommend that you use the instructions here – https://www.gov.uk/pay-self-assessment-tax-bill/overview – to identify ways of paying your tax liability.
Your paying reference is your 10 digit tax reference (“UTR”, as it is often called) plus the suffix “k”. If using the online payment method, select “Cumbernauld”, if required.
For example, if your reference number is 1234567890, your payment reference will be 1234567890k.
Please do not use this example reference to pay your tax!
We strongly advise you to seek appropriate advice before taking action on any of the points listed above.
All information contained in this document are correct at the time of writing. Legislation and regulations may change at any time.
If you are in any doubt, please call us for clarification.
About us: Leggate Associates Limited was formed by Andrew Leggate LL.B FCMA FCA CGMA who has over 35 years of tax and accountancy experience in industry and practice, and the practice is managed by Joanne Leggate FMAAT, ATT (Fellow). Our clients range from building subcontractors to multi-million pound concerns and high net worth individuals all over the UK. Please see our website www.leggateassociates.co.uk or follow @LeggateAssoc on Twitter for occasional updates.
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