Is TalkinPeace still on here? Could do with your advice!

[revengeongc]

Basically, I have a horrific personal tax bill coming up at the end of the month and I can't pay it. I WOULD have been able to cover it but HMRC have decried that we can no longer use personal credit cards to pay personal tax bills (thanks for that).

I may be able to get a loan or settle some of it straight away with savings and money transfers. If I call them and ask to pay in instalments and they say no, apparently I'm then expected to pay the entire lot there and then, which, obviously, I can't.

If I set up an unofficial instalment plan and pay off an amount each month, are they going to set the debt collectors on me?

And yes, I should have been putting personal tax away but it was very complicated with the incorporation of my company, some assets being pre-incorp and some not. I have diligently been putting away corporation tax and paid that no drama, but the personal tax dates to when I was a lot poorer and less aware of what I had to do (I do have a good accountant now).

Any help appreciated!

Do you not have any money in the business you could loan to yourself?

... where is your accountant in this? Do they not have any ideas?

Thanks - that is a possibility. I'm due to see my accountant this week (and find out the full horrific amount due!) so I will check with him.

Can you not still pay with personal credit card up until the 13 Jan? Know it would mean paying earlier than 31st Jan but if you can use your credit card to help out or ask for a repayment plan. I would ask the tax man for a repayment option rather than doing it yourself.

It'll be expensive, but you could take cash out on your credit card over time (there will be a maximum per day), pay it into the bank then use that to pay the bill.

I've actually had an email today from Barclaycard about transferring money from my credit card to my bank account. There's a 1.9% fee but it's 0% interest until October 2018. Could you do something like that?

Op - keepcalm is correct, you have until the 13th Jan to put it on a personal CC.

I went to pay mine online via CC on Monday but they do charge a fee for personal CC so I will do it via debit card later in week (its my first tax bill as I am PAYE at work but have some CGT to pay).

Thanks all. I should be able to pay it by credit card before the 13th so that really helps!

Contact HMRC and ask for a Time to Pay arrangement.