Time to Pay Scheme

HMRC Time to Pay Scheme

Clock Ticks on HMRC Time to Pay Scheme

January is all about making resolutions and getting the decks clear to make a good start to the year. However, businesses making use of HM Revenue and Customs’ (HMRC) Time to Pay scheme could be faced with more than they’d bargained for, warns cashflow specialist Bibby Financial Services. Time to Pay, which launched a year ago, has helped more than 150,000 businesses delay their tax payments. However, with the Government’s tax deficit increasing by the minute, the HMRC is, understandably, looking for ways to recoup some of these unpaid taxes. Edward Rimmer, Bibby Financial Services chief executive, UK and Ireland, said: “It comes as little surprise that the HMRC is looking to take a tougher line with businesses to claw back some of these unpaid taxes and, even if th... »