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HMRC gives troubled businesses extra time to pay tax liabilities
Posted Jan 16, 2009
Thanks to a concession in the Pre-Budget Report, over 20,000 businesses have been allowed to delay paying their tax liabilities to HMRC.
Businesses who have had trouble making ends meet due to the economic downturn have been allowed to pay their tax bills via payment timetables they can afford.
Typical liabilities would include PAYE, National Insurance Contributions and VAT.
The Chancellor announced the creation of the Business Payment Support Service (BPSS) in his November 2008 Pre-Budget Report.
According to HMRC, they aim to give a decision to troubled businesses in around 10 minutes.
Contacting the BPSS
If any IT contractor companies have had trouble meeting their tax liabilities, you can contact the BPSS on 0845 302 1435 seven days a week.
Before calling the hotline, make sure you have the following information to hand:
- your tax reference number.
- details of the tax that you are or will have trouble paying.
- basic details of your businesses income and outgoings.
You can read more about the scheme here.
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