19 Jan 2024Nearly 45,000 people have sorted self assessment tax bills totalling almost £148 million by setting up a payment plan, according to HMRC. The tax authority confirmed that over 7.7 million self assessment customers have already filed their tax return for the 2022/23 tax year. However, HMRC also warned taxpayers to pay their tax bill before the deadline on 31 January or risk facing a penalty. Those who are unable to pay in full can check online to see if they can set up a monthly payment plan called Time to Pay. If they owe less than £30,000, they can use the affordability checker on GOV.UK to help decide the best arrangements for them. Interest will be applied to any outstanding balances from 1 February. Myrtle Lloyd, HMRC's Director General for Customer Services, said: 'We want to help self assessment customers meet their obligations and there is no time like the present to choose the right payment option for you.'