BusinessBusiness RecoveryPrivate businesses call for Time to Pay increase

Private businesses call for Time to Pay increase

66% of Forum of Private Business members call for increase or retention of HMRC's "hugely popular" tax deferral scheme

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

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