HM Revenue & Customs (HMRC) is reminding Self Assessment taxpayers, including sole traders and small business owners across Omagh, that support is available if you’re unable to pay your tax bill in full.
If cashflow is tight, HMRC’s Time to Pay arrangement allows eligible taxpayers to spread the cost of their Self Assessment bill over manageable monthly instalments, helping you plan ahead and avoid unnecessary stress.
What is a Time to Pay plan?
A Time to Pay plan is designed for individuals who cannot pay their tax bill in one go. Instead of a lump sum, payments are spread over regular monthly instalments, making it easier to manage alongside day-to-day business costs.
Key deadlines and eligibility
The deadline to file your online Self Assessment tax return for the 2024–2025 tax year and pay any tax owed is midnight on Saturday 31 January 2026.
You may be able to set up a Time to Pay plan online if:
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you owe less than £30,000
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you are unable to pay the full amount by the deadline
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you have already submitted your Self Assessment tax return
For amounts over £30,000, you can still apply, but you will need to contact HMRC directly.
Important things to consider
Before setting up a Time to Pay arrangement, it’s essential to budget carefully. Monthly payments must be made on time, as missed payments can result in interest charges and penalties.
Time to Pay can be a useful option for Omagh-based businesses and self-employed individuals facing short-term financial pressure, but it’s important to ensure the plan is realistic and sustainable.
Set up a Time to Pay payment plan.
Paying your tax bill
There are many ways in which people can pay their Self Assessment tax bill, including paying through the free and secure HMRC app or online. See a full list of payment options for your tax bill.
Simple Assessment
HMRC is also reminding anyone who received a Simple Assessment letter that the deadline to pay any tax owed is 31 January 2026. Simple Assessment customers do not need to register and complete a tax return.
For further information, see pay your Simple Assessment tax bill
