HMRC is adopting a hard line on companies requesting “time to pay” their
taxes, according to information supplied to IT finance providers and
Obtained by Syscap under the Freedom of Information act (FOI), the data
reveals the number of rejected time to pay applications to the taxman has
doubled compared to the same period last year, a report in
Under the FOI, Syscap found HMRC rejected more than 11% of applications
during the first quarter of this year compared to just 5.3% for the same period
“SMEs are still finding it incredibly hard to borrow money from their bank to
pay HMRC VAT so news that the HMRC refusal rate has shot up is worrying,” said
Philip White chief executive of Syscap.
“GDP growth of 0.2 per cent [in the first quarter of the year] shows the
economy is weak, not strong, and that more needs to be done to help SMEs, not
less,” he added.
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