HMRC's time-to-pay scheme tops £5bn
The taxman's Businesses Payment Support Service has been bailing companies out at an average of 4,500 a week, deferring £5.13bn of tax
The taxman has helped UK businesses survive the financial crisis by allowing
them to defer £5.13bn of tax by setting up 300,000 time to pay arrangements, HM
Revenue & Customs has revealed.
The Businesses Payment Support Service has been running for 15 months and has
set up the arrangemnts, which give companies breathing space on their tax bills,
at an average of more than 4,500 a week.
Advisers have voiced concerns it was getting tougher to join the scheme,
adding it would eventually have to close.
However HMRC has insisted the BPSS is still available and the eligibility
criteria have not changed.
Further reading:
Time-to-pay
arrangements top £4.3bn
Bookbinder
folds as HMRC rejects time-to-pay plea