HM Revenue and Customs’ (HMRC) recently launched Business Payment Support Service (BPSS) has already enabled 25,000 businesses to delay paying more than £429m worth of tax, according to the government.
The service, launched in November 2008, gives businesses the opportunity to pay all their HMRC taxes, including PAYE, National Insurance Contributions and VAT, through timetables they can afford. It was set up to help those in business or who are self-employed, and who are experiencing temporary financial problems.
Financial Secretary to the Treasury Stephen Timms MP has urged businesses facing financial difficulty to speak to an HMRC adviser. “A short phone call could save hard working businesses time and money,” he said.
A total of 44,500 phone calls have been received since the service’s launch, from businesses wanting advice, or requesting a ‘time to pay’ arrangement.
The BPSS can be contacted on 0845 302 1435 from 8am to 8pm Monday to Friday and from 8am to 4pm at weekends, or for more information visit www.hmrc.gov.uk/pbr2008/business-payment.htm.