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HMRC support available for those having difficulty meeting their tax liabilities

Barristers may wish to be aware of the recently launched Business Payment Support Service (BPSS). This is a service introduced by the government to help self employed people and businesses who may be having difficulties in meeting their tax liabilities. It covers most taxes and duties including VAT, Corporation Tax, PAYE, National Insurance and Income Tax. Normally this will involve agreeing a “Time to Pay” arrangement which will allow payments to be spread over a number of months. The government are actively encouraging businesses to make use of this scheme where appropriate.

Further details are available from the HMRC website or the dedicated telephone line on 0845 302 1435. If a payment plan is put in place before surcharges or penalties become due then these penalties will not apply although interest will be charged. The current interest charge is an annual rate of 2.5%.