With insolvency experts predicting an increase in company failures, evidence is emerging that HMRC is adopting a harder line on outstanding debts and voluntary agreements.
Time to Pay
Businesses looking to defer paying their tax bills are feeling the squeeze with many finding it increasingly difficult to secure Time To Pay arrangements under the Business Payment Support Sche
HMRC is telling debt ridden businesses to use their credit cards rather than allowing them to defer their tax under the ‘Time to Pay’ scheme.
Before I fire one off to HMRC, I would just like to check with fellow professionals my understanding of the interaction of time to pay arrangements and surcharges under self assessment.
Businesses that don't manage their tax debts properly may face insolvency and be unable to take advantage of HMRC's Time to Pay scheme, warn experts.
HMRC has toughened its stance on VAT deferral requests and recent reports suggest ‘Time to Pay’ may be abolished altogether in next week’s Budget.