HM Revenue & Customs Tax Payment support for businesses suffering due to economic downturn

October 29th 2009 1:47 pm

If your business is suffering due to the economic problems then HM Revenue and Customs have opened a Business Support Service ...

By Ray Arman

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If your business is suffering due to the economic problems then HM Revenue and Customs have opened a Business Support Service to assist you with your tax payments (national insurance, VAT, income tax or corporation tax). This service will not reduce/cancel your tax liability but it will help you with alternative payment arrangements. However, do note that, if you do get such an agreement, then although there will be no late payment surcharges, you will still have to pay the interest on those taxes past their due date. This is useful in the short run but in the long run it may end up costing more depending on much tax is outstanding.

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