Time to pay arrangements for individual taxpayers explained
HMRC has issued guidance for individual taxpayers on how to settle a tax debt using a negotiated time to pay arrangement.
Taxpayers struggling to pay their tax bills can try to arrange a monthly payment plan with HMRC to spread payments over a specific time period. Unpaid tax bills incur penalties and interest charges so it is important to get in touch with HMRC as early as possible to negotiate repayments, although interest is not waived during the period.
Read more at the Accountancy Daily.