TaxCorporate TaxTaxman strikes back: We’re still deferring businesses’ tax

Taxman strikes back: We're still deferring businesses' tax

HMRC argues agaisnt advisers' claims that it is holding back on 'time to pay' arrangements

The taxman has hit back at claims it is reining its business tax deferral
support, revealing it agreed to defer £150m in payments over the Christmas
period.

After some criticism from advisers that
HM
Revenue & Customs
was winding down its ‘time to pay’
arrangements, it hit back today with figures that show it has deferred £4.52bn
in tax payments since December 2008 – up to 10 January 2010.

HMRC had agreed £4.37bn by 20 December 2009, after the scheme begun a year
earlier.

“A number of accountancy firms and financial advisers have suggested that
HMRC’s commitment to supporting businesses is being reduced. Nothing could be
further from the truth,” said an HMRC spokeswoman in a statement.

Further reading:

Time-to-pay
arrangements top £4.3bn

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