Business with arrears may benefit from the government’s Time to Pay Arrangements, which allow the business to repay any outstanding tax, such as PAYE/NI and VAT liabilities, in instalments. A Time to Pay Arrangement normally lasts for a defined period of around 6 or 12 months, although ...
According to the consultation paper on the General Anti-Avoidance Rule, the power is designed to counter tax arrangements, the main purpose of which is to reduce tax liabilities.TolleySteveMoney Marketing (Online Edition)
“HM Revenue & Customs (HMRC) is responsible for making sure that money is available to fund the UK’s public services and expects people to pay their tax in full and on time.” While HMRC’s explicit role is tax collection, its implicit role can be viewed as a regulator aiming to det...
However, the number of APAs agreed have fallen and the average time to reach agreement is still close to 4 years. The increased appetite for certainty and the longer period to agree APAs could be the product of increasingly complex business models and transactional arrangements of...