At this time of year, many self-employed people are starting to become concerned about taxes. There is a need to finalise your self-assessment form and of course, there is a bill that comes along with it. This means a lot of people struggle in January because they know that they have a lot of money to pay out in a short period of time. This is why the news that there are fewer payment options allowed by HMRC will be a worry for some people.
In an era when most organisations are looking to offer more payment options, the move by HMRC to offer fewer payment options will be a concern to some people. After all, one of the options that has been removed in January is the option to pay by credit card. In the past, HRMC have applied an additional fee to credit card payments but they have allowed people to pay in this manner.
Are you affected by fewer payment options?
This is now no longer the case and there are concerns that people will suffer due to the fewer payment options being offered by the HMRC. Ultimately, no one would want to pay off taxes through their credit card but when a lot of people are juggling their finances, you can see why people are keen to do this. Paying off taxes by your credit card can allow some financial flexibility in a very tough.
It is not as if people are generally fond of the HMRC in the first place. There is no denying that this is an organisation that people don’t like because who likes paying taxes? While taxes are important, the fact that many big companies don’t seem to bother with taxes means that many people take umbrage at being told to pay up and on time. The fact that there are now fewer payment options will only annoy people even more when it comes to squaring up tax payments at this time of year.
If you are looking for help at this time of year, it is best to be open about your finances. It is not as though your finances will magically improve by wishing, there is a need to take action. The fact that there are fewer payment options provided by the HMRC is concerning but equally, you should look at this as an opportunity to make positive changes when it comes to finances.
Hopefully the end of January can pass by without too many problems, even if you do have to deal with fewer payment options.