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Where Taxpayers and Advisers Meet

Is it okay to use self-service "Time to Pay" if I actually can pay?

wildraid
Posts:14
Joined:Wed Mar 29, 2017 11:05 am
Is it okay to use self-service "Time to Pay" if I actually can pay?

Postby wildraid » Tue Jan 05, 2021 6:27 pm

Hello beautiful people,

I have a simple question regarding to self-service "Time to Pay": https://www.tax.service.gov.uk/pay-what-you-owe-in-instalments

I am eligible for this service according to listed conditions:
  • owe £30,000 or less
  • have no other tax debts
  • have no other HMRC payment plans set up
I consider using it to optimise investments and spread tax payments of ~15k in anticipation of GBP currency (and other fiat currencies) going much lower in the next 12 months.

The main problem is that I can actually pay the full amount if I sell some stuff, and HMRC knows this (good salary, 150k+ in ISA accounts, other investments declared in Self Assessment etc.). But I could not find anything in HMRC guidelines regarding to actual ability to pay, except conditions listed above.

I guess, taxpayer has to explain his situation during normal phone call, but not online. Online application is approved automatically.

Is there any chance HMRC will chase or question me for (ab)using the "Time to Pay" service later on?

Thank you!

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Is it okay to use self-service "Time to Pay" if I actually can pay?

Postby bd6759 » Tue Jan 05, 2021 9:42 pm

You know you are not eligible and are asking if you should take advantage of the self-service nature of the facility.

Most people wouldn’t need to ask.


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