In the 2008 Pre Budget report the chancellor announced that the HMRC have launched a new service to assist businesses who may have problems meeting their Tax, National Insurance and VAT liabilites.
It is designed to help businesses who have payments due now or in the near future, and will usually give you a quick decision on the options available to you, which includes arranging to make payment of your forthcoming tax liability over a longer period.
We recommend you contact the HMRC business payment support line on 0845 3021435 as soon as possible, as they urge you to get in touch with them in advance of the payment date, as they cannot help once the payment becomes due.
By Jo Nockels
Disclaimer: The information provided is based on current guidance (at date of publication) from HMRC and may be subject to change. Any advice shared here is intended to inform rather than advise. Taxpayer's circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this information, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.