Are you earning through PAYE and have additional tax to pay under £3,000? Then you might be able to pay your tax bill through an adjustment to your tax code, as long as you file your tax return by 30 December.
Nearly 12 million people need to file a tax return. About half of them will be paying PAYE - - ie are employed or receive a company pension. There's a simple way to pay if you file your return by 30 December, which comes a month before the overall 31 January self-assessment filing deadline.
If you’re employed and have extra income, being able to pay tax due through your tax code is a really efficient and effective way to pay tax, spreading it across the year. It’s also automatic for those people who qualify.
We’d love to see it extended, but for now it’s only available to those people who will already have filed by the end of December, including the 186,000 we expect to be filing during Christmas week.
You can file by filling in forms at HMRC, using an accountant, or quickly and easily with untied. However you file, it’s a good reason to get it done by 30 December.
Photo by Towfiqu barbhuiya on Unsplash
