Pictured above: Andy McQuillan, Tax Partner at
Dains
Dains, Midlands based Chartered Accountants and Business
Advisers are advising that from April 2011, payments for Class 2
National Insurance contributions will become due on the same dates
as self-assessment tax bills - 31 January and 31 July.
This means that taxpayers who currently make payments to HM
Revenue and Customs (HMRC) via telephone or internet banking,
CHAPS, bank giro, Post Office counter or post will only receive two
payment requests each year, instead of four. These will arrive in
the October and April preceding each deadline.
Andy McQuillan, Tax Partner at Dains said "In the case of
monthly payments by direct debit, it will be possible to continue
making payments by this method however these will stop for a short
time next year, to bring the payment dates in line with the new
rule. Alternatively a new six-monthly direct debit, collected each
January and July, will also be offered".
The last monthly direct debit collection for the 2010/11 tax
year will be taken in April 2011 which will be for the March 2011
payment. The next monthly payment will be in August 2011 being the
first of twelve direct debits for the 2011/12 liability finishing
with the last one in July 2012.
Anyone affected by the proposed changes will be sent detailed
information by HMRC over the coming weeks.