If you landed on this page, I’m assuming you’re struggling to pay your taxes on time. But, don’t worry – you’re in the right place. This blog aims to give you the steps you need to take if you can’t pay your tax bill, and to give you some peace of mind. So, read on.
The first thing to do when you can’t pay your tax bill
It’s quite normal to go into a mode of panic and uneasiness when you know that you’ve got any kind of debt. So, it won’t be any different when you can’t pay your tax bill. Stress comes into play – but you already know that. We all do!
So, the first thing you need to do is to stay calm. This is because panicking will not get you anywhere. Yes, it’s a problem when you can’t pay your tax bill on time – and not a very good one to have, but let’s acknowledge that and try to be constructive.
The problem is not going to get resolved on its own. You need to take action.
Further steps to take
Before you decide to anything about paying off your debt to HMRC (His Majesty’s Revenue & Customs), you need to get more information about your options.
I dive more into that, and I also give plenty of other tips for when you can’t pay your tax bill in the video below. Click the preview image to watch it.
Now that you are familiar with what you can do if you can’t pay your tax bill, you’ll also know that it’s good to plan for next year’s tax return.
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