Those who want to pay their self-assessment tax bill through their PAYE tax code must file their return online by 30 December.
This means that HMRC will automatically collect the tax you owe from your wages or pension over the course of the coming year.
To be eligible to pay your self-assessment through PAYE, you must:
- owe less than £3,000 on your tax bill
- already be paying tax through PAYE as an employee or a member of a workplace pension.
You cannot pay use this option if:
- you do not have enough PAYE income for HMRC to collect it
- it would result in you paying more than half your PAYE income in tax
- it would result in you paying more than twice as much tax as you normally would do.
Deductions are made alongside your usual tax deductions in equal instalments over 12 months.
For any help or advice with financial planning talk to RPD