30-07-2019
Payments on account system glitch

The due date for making your second payment on account for 2018-19, was the 31 July 2019. The amount that was due for payment is usually the same as that for your first payment on account made on or before 31 January 2019. If you are late making a payment on account, you will likely be required to pay interest and penalties.

Issues with HMRC’s handling of payments on account have been reported by a number of taxpayers. This is an ongoing problem that also affected the first payment on account due in January 2019. If the first payment on account was missing, the second payment on account may also be affected. This is because HMRC did not correctly process all the payments on account information for 2018-19.

The glitch could have resulted in you not receiving the usual statement of account from HMRC telling you how much tax you needed to pay by 31 July 2019. HMRC has said that if you are affected, 'any liability for 2018-19 this will be payable in full in January 2020. Any payment intended for the 2018-19 POA, will be allocated against any 2018-19 balancing payment due on 31 January 2020'.

This could result in those affected having to pay a far larger amount than expected as a final payment for 2018-19 in January 2020. If you are affected by this glitch, please contact us and we can help you understand your available options, as making a 'voluntary' payment could result in further issues. 

Source: HM Revenue & Customs | 30-07-2019

Back

Post a Comment

Your email address will not be published. Required fields are marked *

*

  • ABOUT US

    the accountancy practice kent logo

    The Accountancy Practice is a Kent based firm specialising in small and medium sized businesses. We provide a friendly, professional service and regard our smallest client as important as our largest.
  • Latest News

    20-08-2019
    National Insurance if you work abroad

    If you move abroad, ... read more

    20-08-2019
    Tax if you work abroad

    If you are leaving ... read more

    20-08-2019
    When can you increase your rental income?

    The ability to ... read more

    More news

  • CONTACT US

    The Accountancy Practice
    10 Churchill Square
    Kings Hill
    West Malling
    Kent ME 19 4YU

    01732 897929

    Fax: 01732 897939
    info@theaccountancypracticeltd.co.uk


    Facebook
    Twitter
    Linkedin
  • Why choose us

    By working more closely with you than traditional accountants, The Accountancy Practice is able to gain a deeper understanding of your individual business needs. We are then on hand to support you with day to day issues and provide ongoing financial and taxation expertise. You can think of us as your virtual Financial Director.