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Written question asked by Jonathan Edwards (Independent (affiliation)) on Wednesday, 31 January 2024, in the House of Commons. It was due for an answer on Monday, 5 February 2024 (named day). It was answered by Nigel Huddleston (Conservative) on Monday, 5 February 2024 on behalf of the Treasury.

Self-employed: Finance

Question

To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of requiring payments on accounts from self-employed workers on levels of financial hardship.

Answer

There has been no recent assessment of the potential impact of requiring payments on accounts from self-employed workers on levels of financial hardship. However, HMRC is committed to helping all taxpayers pay their taxes and urges anyone having difficulty to make contact as soon as possible, to discuss the payment options that are available.

HMRC offers Time to Pay instalment arrangements for taxpayers who cannot afford to make full payment of their tax when it is due.

HMRC also provides a Budget Payment Plan service, through which self-assessment taxpayers can make advance payments to pay off a forthcoming tax payment, such as a payment on account.

Self-Assessment taxpayers (including the self-employed) can make a claim to reduce or cancel their payments on account if they think they are excessive, or no longer due.

Secondary information

Type
Written question
Reference
12293
Session
2023-24
Subjects
Finance Self-employed Cost of living
Link
View this Written question on www.parliament.uk