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 ...
Late payment interest for VAT will also apply, at a rate of 2.5%. Notably, if a production company agrees a Time to Pay arrangement with HMRC, this will be treated in the same way as a payment. As such, it’s worth reaching out to HMRC as early as possible if you envision any pay...
the PAYE debt has to be less than £15,000 your client must not have any other debts the Time to Pay arrangement must be set up within 35 days from the date the liability was due the debt must not include penalties or specified charges. ...
Kroll’s Tax Arrears Solutions team can help you or your client negotiate a Time To Pay (TTP) arrangement with HMRC and manage other key stakeholders during this period, which is often a key component of a successful turnaround plan that preserves a company’s future and safeguards jobs. We...