The recommendation by Alastair Wood of Gravesend accountants AW Accountingon how to pay self assessment bills is electronically as this avoids any doubt about the amount written on a cheque and potential for lost or delayed post. There are two options, using your own online banking or by credit/debit card via HMRC:
To pay using online banking you will need to set up the HMRC bank details:
- Account name: HMRC
- Account number: 12001020
- Sort code: 08 32 10
When making the payment enter the amount due and quote your tax reference (UTR) followed by the letter K which should be shown on the payslip if you have one (eg 1234567890K)
To pay by card, firstly go to www.billpayment.co.uk/hmrc. You will have to sign up to billpayment then log on. The process thereafter is similar to an online shopping process, as always ensure you carefully check the reference number and amount you are paying.
According to HMRC it takes 3 working days for funds to reach them, we would recommend you pay by Wednesday 26 January 2010 to ensure funds are guaranteed to be cleared by 31 January. Further details on paying HMRC can be found on their website How to pay Self Assessment.
This guide is given for information only but if you are in any doubt please seek professional advice before taking any steps based on the information shown. If you would like advice in this or other areas feel free to call. Alastair Wood, AW Accounting, Gravesend – Accountants who “speak your language”