TaxAdministrationTime to pay arrangements ‘winding down’

Time to pay arrangements 'winding down'

Debts owed through Business Payments Support falling

Accountants believe the Time to Pay project (or Business Payments Support
Service) is being wound down after the money owed through the scheme dropped
significantly.

Wilkins
Kennedy
claim the sum owed fell from £1.15bn to £1.01bn at the end of
November.

The firm is concerned the fall in sums being postponed with HM Revenue &
Customs come at a time when bank lending remains lacklustre and when insolvency
experts expect a fresh wave of business collapses.

Anthony Cork, director at Wilkins Kennedy, comments: “All the signs indicate
that Time to Pay is being wound down. However, HMRC seems to be overlooking the
fact that historically, businesses have needed as much support, if not more, as
the economy goes into recovery. This recession is unlikely to be any different.”

Read more:

Time
to pay extended

HMRC
flexes muscles with probes

Related Articles

HMRC- The Return of the Zombie Killers !!

Administration HMRC- The Return of the Zombie Killers !!

7y Martin Williams
Taxman grants fewer time to pay agreements

Administration Taxman grants fewer time to pay agreements

7y Rachael Singh, Writer
Bookbinder folds as HMRC rejects time-to-pay plea

Administration Bookbinder folds as HMRC rejects time-to-pay plea

8y David Jetuah, Reporter
£3bn in tax payments deferred by HMRC

Administration £3bn in tax payments deferred by HMRC

8y Gavin Hinks, Writer
HMRC risks £2.4bn on deferred tax bill

Administration HMRC risks £2.4bn on deferred tax bill

9y David Jetuah, Reporter
HMRC has to find the right exit strategy

Administration HMRC has to find the right exit strategy

9y Accountancy Age, Reporters
HMRC helpline works on restructuring tax bills worth £440m

Administration HMRC helpline works on restructuring tax bills worth £440m

9y Gavin Hinks, Writer