HMRC establishes helpline

HMRC has launched a new 'Business Payment Support Service', for businesses which are having difficulty paying their taxes on time.  

Baker Tilly analysis

A business which is in temporary financial difficulty, and is unable to make a tax payment on time, can call a telephone helpline (0845 302 1435).

The intention is to offer the business a 'fast and streamlined' facility for arranging to pay its taxes according to a timetable it can afford. HMRC will then refrain from imposing additional penalties or surcharges on the tax covered by the arrangement, although interest will still be charged.

The scheme covers all business taxes including corporation tax, income tax, VAT, PAYE and national insurance contributions.

For further details, see http://www.hmrc.gov.uk/pbr2008/business-payment.htm