REMINDER: UK 2021/22 TAX LIABILITY PAYMENTS

Just a reminder that any 2021/22 self assessment tax liabilities that are still outstanding should be paid to HMRC by this Thursday, 2 March to avoid late payment penalties equal to 5% of the outstanding tax due.

Alternatively, Time to Pay arrangements can be agreed with HMRC in advance of 2 March 2023 to spread repayment costs and avoid the 5% late payment penalty.

Just to be aware however that if you agree a time to pay arrangement with HMRC and do not make the payments on time as agreed, HMRC may charge late payment penalties as if the arrangement never existed.