New announcement. Learn more

CHARTERED ACCOUNTANTS (ICAEW)

News and advice to help make your property business a success

LANDLORDS FINANCIAL BLOG

All

Landlords Tax Property Tax Landlords Tax Returns Landlords Accounts Property Tax Return Property Accounts Landlords Financial Landlords Accountant Tax Returns Tax VAT Chartered Accountants Online Accountant Online Bookkeeping Online Tax Returns Your Online Accountant Your Online Bookkeeper Businessadvice HMRC Accounting NIC SDLT Expenses Property Cashflow Dividends FHLs Investment Property Tax PAYE Property Accountant Smallbusiness Businesstips Capital Gains Tax Furnished Holiday Lettings Ihtexemptions Income Tax Inheritance Tax Sole Trader Tax Implications Tax Relief Taxplanning Cgt Gifts Holiday Lets Tax ISA Landlord Repairs Pension Property bookkeeper Property Letting Taxreturn VAT invoice Allowable Business Expenses Annual Exempt Amount Bad Debt Tax Relief BADR Benefits in Kind Business Expenses Business Rate Business tips Capital Allowances Capital Gains Capital gains tax property Cashbasis Child Benefit Compliance Deductibleexpenses Directors Loans Disincorporation Employment Allowance Finance Financialmanagement Flat Rate Scheme HMRC complaints Lettings Making Tax Digital MakingTaxDigital Mileage Allowance Mobilephones MTD MTD Update National Insurance Overlaprelief Partnership Partnershipbusinesses Payrolling Ppr Property Company Tax Property Tax Deductible Expenses Propertyallowance Reimbursedexpenses Relief Rent a Room Relief Rental Residence Relief Residential property gains Selfemployed Small Business Stamp duty Tax free income TimetoPay Working from home 60 day capital gains limit Abolitionclass2 Accrualsbasis Acquisitions ADR Advisoryfuelrates Agricultural Property Relief AI AirBnB Alphabet shares Amap Annual Tax on Enveloped Dwellings Appeal Artificial intelligence Assessment Asset disposal Associated Company Associated Company Tax Rules Autumnstatement Bad Debt Baddebts Badgesoftrade Beancounter Breakeven Point Budget Business advice Business asset deferment Business coach Business Continuity Business Entertainment Business Rates Business Rates Relief Businessgrowth Businesstypes Buy or Lease Equipment Buytolet Capital Allowances for Cars Capital Gain Capitalallowances Capitalexpenditure Car Capital Allowances Carry Back Losses Change of Tax Basis ChatGPT CIS Scheme Class 2 NIC Class 3 NIC Commercial Property Common Tenant Companies Expenditure Companies House Company Account Deadlines Company Account Filing Company Strike Off Company Tax Efficient Property Companyassociation Companyloanstaxfree Compulsory Strike Off Construction Industry Scheme Contacthmrc Contentmarketing Contributions Corporation Tax Losses Corporation Tax New Regime Corporation Tax Rates CorporationTax Costs Cryptocurrency Customerlistimplications Deductible Business Expenses Deductions Deferring NIC Demerger Depreciation Development Directors Directorsloans Disallowable Business Expenses Discovery Disposals Dispute Resolution Dividend allowance Dividend Allowance Reduction Dividend Planning Dividendallowance DLA Domestic Items Tax Relief Dormantcompany EIS Employee Discount Employee management Employeecompensationpayments EmployeeOwnershipTrust Employers NIC Endoflifeplanning Enquiry EnterpriseResourcePlanning Entertainment Entrepreneurmindset Equity Expenses Allowed For Tax Extrabenefit Eyetests Flipping Furnished Holiday Lets Tax Gift Aid Gift Allowance Growthhacks Help to pay tax bills HICBC HMO Licensing Fees Holdoverrelief Holiday Lettings Tax Home responsibilities protection How to apply for a Business Loan How to Extract Profit Humour Hybrid Illegaldividends Income Income and Gains Inflationary Gains Influencers Inheritance Tax Nil Rate Band Interest Rates Interestrelief Interestrestriction Invoicing IR35 Joint Tenant Keypersoninsurance Landlords Self Assessment Late vat registration LBTT Leadgeneration Leadmagnet Leanbusinessmodel Lending Letting Agent Disbursements Letting Agent Recharres Lettings Relief Lifetime Limit Limitedcompany Liquidation Demerger Loan Loaninterest Long Lets Tax Longservice LTT Mainresidencerelief Managed Lets Management accounting Maritalhomedivorce Marriage allowance Marriageallowance Mileage payment Minimumwage Mixedusesdlt Mortgage costs Mortgage Interest Relief New property Newcompanycarfuelrates Newnicrules NIC 2023 to 2024 NIC savings Nicdisregard Nicreduction NMW Nmwerrors Non Allowable Business Expenses Non-taxable Nudgeletter Optiontotaxvat Overpayment Relief Overseas properties Paperform Partnership schemes Parttime Patternofoccupancy PAYE by Direct Debit Payroll Penaltypoints Pension Payments Tax Relief Pensioncontributions Pensions Performance-reviews Periodofgrace Periodsofabsence Personal Expenses Personal finance Personalallowance Personalguarantees Postcessationrelief Pretradingexpenses Profit Profit-and-loss ProfitAndLoss Property Allowance Property Development Company Property Incorporation Property Investment Company Property investor accounts Property investor tax tips Property Rental Business Property Trading Propertycompany PRR R40 Recharges by Estate Agents Refund Regularpayments Rent your drive Rentaroom Research & Devolopment Residentialsdlt Retail stock control Retainedprofits Revenue Room for rent tax Rti SA Salary Salary Sacrifice Savings SDLT changes Section 455 Tax Section455tax Selective Licences Landlords Self Assessment Self-employednic Selling Online Seperation Servicecharges Settlementslegislation Simplified Expenses Smallbiz Smallbusinessraterelief Software Spring Budget Staffparties Starting a business Student Loan Deductions SuccessJourney Surplus Cash Tax Allowance on Driveways Tax Allowances Tax bill Tax Break Tax Codes Tax Deadlines Tax Deductions Tax Filing Deadlines Tax Free Childcare Tax on Company Vans Tax position Tax Refund Tax tips for landlords Tax-free savings income Taxbillpayments Taxconsequences Taxincentives Taxposition Taxpositionassets Taxrelief Taxreliefs Taxses Terminationpayments Tips Trade professional Trading losses Training Transfer Assets Transfer Assets Between Spouses Travel Umbrellacompany Undisclosedincome Unpaid Rent VAT Bad Debt Relief VAT Deadlines VAT Disbursements VAT flat rate scheme VAT Penalties VAT registration VAT Reverse Charge Vatpenalties Vatregistered Vatregistrationthreshold Wellbeing

TAGS

Self-serve Time to Pay for VAT

September 1, 2023

Self-serve Time to Pay for VAT

For some time, taxpayers within Self Assessment have been able to set up a TimetoPay arrangement online, allowing them to pay their tax bill in instalments if they cannot pay it in full and on time. The facility to set up their own TimetoPay arrangement has now been extended to VAT-registered businesses.

Setting up a VAT payment plan online

If you operate a VAT-registered business and you are struggling to pay the VAT that you owe, rather than having to contact HMRC to set up a TimetoPay agreement, you may now be able to do it yourself online. A Time to Pay agreement will enable you to pay the VAT that you owe in instalments. Payments are collected via direct debit.

You will be able to use the online self-serve facility if the following conditions are met:

· you have filed your last VAT return;

· the amount that you owe is £20,000 or less;

· you are within 28 days of the payment deadline;

· you do not have any other payment plans or debts with HMRC; and

· you plan to pay what you owe within six months.

However, you cannot use the online service if you use the VAT cash accounting scheme or if you use the VAT annual accounting scheme. You are also unable to use the online service if you make VAT payments on account.

To set up a payment plan online, you will need to sign into your Government Gateway account. As you need to set up a direct debit to collect the payments, this is something you must do yourself. While an adviser can guide you, they cannot do it on your behalf.

Unable to self-serve

If you are not eligible to use the online service and are struggling to pay your VAT bill, you may still be able to agree an instalment plan with HMRC. However, to do so you will need to contact HMRC by calling the VAT payment service on 0300 200 3831.

VAT

TimetoPay

Landlords Tax

Landlords Accounts

Property Tax

Property Accounts

Landlords Tax Returns

Property Tax Return