HMRC agrees £1bn of 'time to pay' deals

More than 60,000 businesses have agreed time to pay tax arrangements with HM Revenue & Customs totaling more than £1bn.

Stephen Timms, financial secretary to the Treasury, said the service has proved to be a success for the department.

The time to pay arrangements are particularly beneficial to smaller businesses experiencing difficulties obtaining credit during the economic downturn.

'This service is delivering the kind of tangible support that business needs at this time. I would urge any business anticipating or experiencing difficulties paying their tax to call the helpline and get a quick response tailored to their specific needs,' he said.

Further Reading:

HMRC tax helpline inundated

Flexible tax payment terms a hit with SMEs, says taxman