Each 31 Jan and 31 July I have to pay a chunk of tax representing a punt at my dividend tax liability for the coming year.
The latest statement that arrived shows nothing for July. There is a side-note saying that due to CV19, I can defer my July payment, but I have taken no steps to do so.
Nevertheless, the next payment shown as due is not until 31 Jan 2021.
So, can I assume that the July payment has automatically been deferred, regardless of the implication that I would need to take steps to do so?
V8
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Tax due in July, errrm, or not.
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- Lemon Half
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- Lemon Half
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Re: Tax due in July, errrm, or not.
88V8 wrote:There is a side-note saying that due to CV19, I can defer my July payment, but I have taken no steps to do so.
If you follow the suggestion in that side note to search for "Defer your Self Assessment payment on account due to coronavirus (COVID-19)" you will find:
https://www.gov.uk/guidance/defer-your-self-assessment-payment-on-account-due-to-coronavirus-covid-19
which includes: "You do not need to tell HMRC that you’re deferring your payment on account."
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- Lemon Slice
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Re: Tax due in July, errrm, or not.
I found the whole thing entirely confusing as it also said you should have a reason to take up the Covid deferral and that the change on the statement to show the amount now due in Jan 21 was to stop HMRC triggering late payment notices.
In the end I paid up. I couldn't be bothered to spend any more time reading about it given the Trust doesn't have an account that pays interest at the moment.
In the end I paid up. I couldn't be bothered to spend any more time reading about it given the Trust doesn't have an account that pays interest at the moment.
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