Private businesses call for Time to Pay increase

Small businesses owners have called for the taxman's "hugely popular" time-to pay scheme to be increased or retained.

A Forum of Private Business poll found 66% had given their backing to the tax deferral scheme which has let businesses stagger more than £5bn of tax bills to date.

"Most of the Government support schemes we listed drew a pretty apathetic response but Time to Pay proved hugely popular, as did 10-day payment by public bodies," said FPB research manager Thomas Parry.

"This reinforces the theme of business owners knuckling down and concentrating on essential, day-to-day financial concerns in order to ensure their firms' survival."

The FPB's quarterly Referendum ballot also found that only 22% are factoring the Budget in their plans for 2010.

Parry, said: "I think there’s a certain amount of cynicism about this year’s Budget and this research reflects that."

"A lot of business owners are simply presuming that there’s going to be another budget straight after the election so they’re not paying it too much attention."

Further reading:

HMRC imposes tougher rules on Time To Pay

HMRC's time-to-pay scheme tops £5bn