The UK His Majesty’s Revenue and Customs (HMRC) released guidance on how and when to pay the Pillar 2 top-up taxes, covering both domestic top-up tax and multinational top-up tax, on 20 November 2024.
When to pay
Payments must be made no later than:
- 30 June 2026, if the first accounting period the group is required to report Pillar 2 Top-up Taxes ends on or before 31 December 2024
- 18 months after the last day of the group’s accounting period, if the first accounting period the group is required to report Pillar 2 top-up taxes ends after 31 December 2024
- the later of 30 June 2026 and 15 months after the last day of the group’s accounting period for all other periods
If the deadline is on a weekend or bank holiday, make sure your payment reaches HMRC by the end of the previous working day.
What you need
You need your Pillar 2 ID reference. This is a 15-character reference number starting with X. This will have been provided when you registered.
If you do not have this, you’ll find it by signing into HMRC online services using your Government Gateway user ID.
If you use an incorrect reference number there will be a delay in the payment being allocated correctly.
Pay by bank transfer
If you pay by CHAPS (Clearing House Automated Payment System) or Faster Payments, your payment will be received on the same or next working day.
If you pay by Bacs (Bankers Automated Clearing System), allow 3 working days for the payment to reach HMRC.
We recommend you check your bank’s processing times and maximum transaction limits before you pay.
Pay by cheque
Allow 3 working days for your payment to reach HMRC.
Make your cheque payable to ‘HM Revenue and Customs only’ and write your reference number on the back.
Do not fold the cheque or attach it to other papers.
You can include a letter to ask for a receipt.
