In the Chancellor’s Winter Economy Plan that, rather than paying in full at the end of March 2021, businesses will be now able to choose to make 11 equal instalments over 2021-22.
For businesses and self-employed individuals who are worried about not being able to pay their tax due to the outbreak of coronavirus, HMRC has set up a dedicated phone helpline to provide support.
There are up to 2,000 experienced call handlers available, and they are on hand to support businesses and impacted individuals where necessary, and any business or self-employed person can use the service to access practical help and advice.
HMRC will discuss the following options with people unable to pay:
- Setting up an instalment arrangement
- Suspension of debt collection proceedings
- The cancellation of penalties and interest where there are administrative difficulties in contacting or paying HMRC immediately
The helpline number is 0800 024 1222, and the opening hours are Monday to Friday 8am to 4pm. The service is not available on Bank Holidays.