HM Revenue & Customs’ (HMRC) Business Payment Support Service

Tax

Struggling firms receive help paying tax bills

More than 20,000 small firms have used HM Revenue & Customs’ (HMRC) Business Payment Support Service to defer their tax bills since it launched at the end of November 2008. Announced in the Pre–Budget Report, the service helps struggling firms by allowing them to set up an affordable tax payment timetable. Under the scheme, HMRC will not apply any late payment surcharges where a deferment has been made, although interest will continue to be charged on outstanding amounts. According to HMRC, more than £350 million of tax, including VAT, PAYE and National Insurance, has already been deferred. The Association of Chartered Certified Accountants head of global taxation Chas Roy–Chowdhury said the service was of real benefit to businesses struggling to meet their tax ... »