In this edition’s eNews, we look at options to pay in instalments for self assessment taxpayers. There is also news on the government’s plans to regulate cryptocurrency and HMRC’s latest guidance for employers to update you on.
- HMRC offers time to help pay self assessment tax bills
- UK Treasury to regulate cryptocurrency under new legislation
- Latest guidance for employers
HMRC offers time to help pay self assessment tax bills
HMRC is sending self assessment taxpayers a reminder that help is available to manage their tax bill.
The deadline to file and pay any tax owed is 31 January 2026, but people who are unable to pay in full by then may be able to set up a Time to Pay arrangement online and spread the cost over monthly instalments.
For those with bills of up to £30,000, such an arrangement can be set up without even needing to contact HMRC directly.
According to HMRC, since 6 April 2025 nearly 18,000 payment plans have been set up using the service, helping customers avoid late payment penalties by arranging regular payments that suit their own circumstances.
A Time to Pay arrangements cannot be set up until a self assessment return has been filed. If the tax owed is more than £30,000, or a longer repayment period is needed, people can still apply but will need to contact HMRC directly.
Myrtle Lloyd, HMRC’s Chief Customer Officer, said:
‘We’re here to help customers get their tax right. If you are worried about paying your self assessment bill, assistance is available. Our online payment plans offer financial flexibility and can be tailored to individual circumstances. We want to support all our customers in meeting their tax obligations with confidence.’
Internet link: HMRC press release
UK Treasury to regulate cryptocurrency under new legislation
The UK will bring cryptocurrencies, including Bitcoin, into a regulatory framework with legislation due by 2027.
The government says that firm and proportionate rules will give legal clarity over the sector’s regulatory position.
It says they will also boost consumer confidence by ensuring consumers are robustly protected.
The changes mean that firms will need to be regulated by the Financial Conduct Authority in the same way as other providers of financial products – including being subject to established transparency standards.
Through this new regime the UK is helping to shape global standards for cryptoassets regulation.
The regime is designed to support responsible innovation, ensure open and competitive markets, and promote the UK as a destination of choice for digital asset businesses.
Chancellor of the Exchequer, Rachel Reeves MP, said:
‘Bringing crypto into the regulatory perimeter is a crucial step in securing the UK’s position as a world leading financial centre in the digital age.
‘By giving firms clear rules of the road, we are providing the certainty they need to invest, innovate and create high skilled jobs here in the UK, while giving millions strong consumer protections, and locking dodgy actors out of the UK market.’
Internet link: HM Treasury website
Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin. The December issue has information on various topics, including:
- Changes take effect 6 April 2026 — prepare for new PAYE responsibilities in labour supply chains.
- Clarifying the Optional Remuneration Arrangement rules at section 228A ITEPA.
- Important update regarding tax refunds.
- Payrolling of benefits in kind.
- Employment Rights Bill autumn consultations.
- Tell ABAB survey report — now live.
Internet link: GOV.UK
For information of users: This material is published for the information of clients. It provides only an overview of the regulations in force at the date of publication, and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material can be accepted by the authors or the firm.