{"id":19566,"date":"2019-08-08T14:29:43","date_gmt":"2019-08-08T14:29:43","guid":{"rendered":"https:\/\/smh.group\/?p=19566"},"modified":"2023-02-15T13:45:13","modified_gmt":"2023-02-15T13:45:13","slug":"self-employed-hit-by-self-assessment-system-error","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/self-employed-hit-by-self-assessment-system-error\/","title":{"rendered":"Self-employed hit by self-assessment system error"},"content":{"rendered":"\n<p>Self-assessment statements for payments on\naccount affecting the self-employed have either not been sent out at all or\nshow a zero balance where a payment was due on 31 July. If you\u2019re not entirely\nclear about when you need to pay what you owe, the consequences of the\nincorrect information may mean you have skipped an outstanding payment for July\nor have been undercharged. When it comes to the next payment period in January\n2020, you could be faced with a much higher bill to pay to cover the missed\nJuly payment. <\/p>\n\n\n\n<p>The fault apparently lies in the HMRC\nsystem failing to generate payments on account for 2018\/19 for some taxpayers.\nDespite knowing about the error for some months, HMRC has not corrected it,\nleading to incorrect balances showing for the 31 July payment.<\/p>\n\n\n\n<p>The implications for cashflow are obvious\nwhere money set aside for your tax payments could end up being spent over the\nnext six months, not to mention the usual post-Christmas expenses most of us\ntend to find in January. <\/p>\n\n\n\n<p>If you were expecting to submit a\nhalf-yearly payment and either received a low or zero balance or no statement\nat all, you should contact HMRC as soon as possible. While the Revenue has said\ntaxpayers affected will not have to pay interest for underpayment or\nnon-payment at July, there will not be such generosity on demands for the full\namount owed in January. <\/p>\n\n\n\n<p>With rising numbers turning to self-employment, it\u2019s not always easy to get to grips with all the processes involved in keeping on top of your finances. Planning to file your tax returns and pay regularly should be factored into your financial workflow, regardless of whether HMRC notifies you or not. HMRC does not regard lack of understanding of the finer points of self-assessment as a \u2018reasonable excuse\u2019 for late filing, so do get in touch if you may have been affected by this latest problem.<\/p>\n\n\n\n<p>To discuss your <a href=\"https:\/\/devstagesite.co.uk\/smhgroup\/chartered-accountants\/self-assessment\/\">Self-Assessment <\/a>with one of our <strong><a href=\"https:\/\/devstagesite.co.uk\/smhgroup\/chartered-accountants\/\">Accounting &#038; Business Advisory<\/a><\/strong> drop us a line on <strong>0114 266 4432<\/strong> or <strong><a href=\"mailto:info@smhca.co.uk\">info@smhca.co.uk<\/a><\/strong>. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Self-assessment statements for payments on account affecting the self-employed have either not been sent out at all or show a zero balance where a payment was due on 31 July. If you\u2019re not entirely clear about when you need to pay what you owe, the consequences of the incorrect information may mean you have skipped an outstanding payment for July or have been undercharged. When it comes to the next payment period in January 2020, you could be faced with a much higher bill to pay to cover the missed July payment. The fault apparently lies in the HMRC system failing to generate payments on account for 2018\/19 for some taxpayers. Despite knowing about the error for some months, HMRC has not corrected it, leading to incorrect balances showing for the 31 July payment. The implications for cashflow are obvious where money set aside for your tax payments could end up being spent over the next six months, not to mention the usual post-Christmas expenses most of us tend to find in January. If you were expecting to submit a half-yearly payment and either received a low or zero balance or no statement at all, you should contact HMRC as [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":16632,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[3],"tags":[250,19],"class_list":["post-19566","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-smh-accounting-business-advisory","tag-self-assessment","tag-tax"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Self-employed hit by self-assessment system error - SMH Group<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Self-employed hit by self-assessment system error - SMH Group\" \/>\n<meta property=\"og:description\" content=\"Self-assessment statements for payments on account affecting the self-employed have either not been sent out at all or show a zero balance where a payment was due on 31 July. If you\u2019re not entirely clear about when you need to pay what you owe, the consequences of the incorrect information may mean you have skipped an outstanding payment for July or have been undercharged. When it comes to the next payment period in January 2020, you could be faced with a much higher bill to pay to cover the missed July payment. The fault apparently lies in the HMRC system failing to generate payments on account for 2018\/19 for some taxpayers. Despite knowing about the error for some months, HMRC has not corrected it, leading to incorrect balances showing for the 31 July payment. The implications for cashflow are obvious where money set aside for your tax payments could end up being spent over the next six months, not to mention the usual post-Christmas expenses most of us tend to find in January. If you were expecting to submit a half-yearly payment and either received a low or zero balance or no statement at all, you should contact HMRC as [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/self-employed-hit-by-self-assessment-system-error\/\" \/>\n<meta property=\"og:site_name\" content=\"SMH Group\" \/>\n<meta property=\"article:published_time\" content=\"2019-08-08T14:29:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-15T13:45:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/09\/investment-options-services.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"585\" \/>\n\t<meta property=\"og:image:height\" content=\"250\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jack Burnett\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jack Burnett\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/self-employed-hit-by-self-assessment-system-error\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/self-employed-hit-by-self-assessment-system-error\/\"},\"author\":{\"name\":\"Jack Burnett\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/8e7b6c4e2e2a702241ea37dd75367398\"},\"headline\":\"Self-employed hit by self-assessment system error\",\"datePublished\":\"2019-08-08T14:29:43+00:00\",\"dateModified\":\"2023-02-15T13:45:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/self-employed-hit-by-self-assessment-system-error\/\"},\"wordCount\":347,\"image\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/self-employed-hit-by-self-assessment-system-error\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2018\/09\/investment-options-services.jpg\",\"keywords\":[\"self assessment\",\"tax\"],\"articleSection\":[\"SMH Accounting &amp; 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If you\u2019re not entirely clear about when you need to pay what you owe, the consequences of the incorrect information may mean you have skipped an outstanding payment for July or have been undercharged. When it comes to the next payment period in January 2020, you could be faced with a much higher bill to pay to cover the missed July payment. The fault apparently lies in the HMRC system failing to generate payments on account for 2018\/19 for some taxpayers. Despite knowing about the error for some months, HMRC has not corrected it, leading to incorrect balances showing for the 31 July payment. The implications for cashflow are obvious where money set aside for your tax payments could end up being spent over the next six months, not to mention the usual post-Christmas expenses most of us tend to find in January. 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