In its first six months of operation, HM Revenue & Customs’ Business Payment Support Service has agreed 15,190 time-to-pay arrangements with businesses in the South West, to spread tax payments over a period they can afford, totalling £220m. In Wiltshire, 1,360 companies took advantage of the scheme.
The BPSS, announced by the Chancellor in November’s Pre-Budget Report, provides a fast track service that offers support to businesses needing more time to pay their tax bills. These businesses can quickly agree terms they can afford with HMRC over the phone. Budget 2009 announced that the service would be enhanced to allow viable businesses to have expected in-year trading losses considered when asking for time to pay their tax bill.
The BPSS can be contacted on 0845 302 1435 from 8am to 8pm Monday to Friday and from 8 am to 4pm at weekends. Further information is available at: www.hmrc.gov.uk/pbr2008/business-payment.htm.
