5 December 2017
If you settle your tax liabilities by paying at the Post Office or using a personal credit card, then changes that are coming into effect will mean you will need to find another method to make your payments.
HMRC have recently announced two changes to the way it will accept tax payments. From 15 December 2017 you will no longer be able to pay using the Transcash service at the Post Office and from 13 January 2018, HMRC will no longer be accepting payments made from personal credit cards.
HMRC are trying to encourage taxpayers to change over to electronic payment methods which include:
- direct debit;
- online or telephone banking (this includes Faster payments, BACS and CHAPS); and
- debit card payments (online or by telephone).
Please note that payments made using corporate, business and commercial credit cards will still be accepted.
So as the tax payment deadline of 31 January 2018 gets ever closer, you need to ensure you don’t get caught out by these changes. Check that you are set up to use telephone or online banking with your bank account or maybe do the unthinkable and pay early!
As one of the leading firms of accountants in the North East, with offices in Newcastle, Sunderland and Jarrow, we have the expertise to advise you on a wide range of tax related issues. If you would like to speak to one of our local experts, please contact us.