Following on from the recent budget announcements and subsequent updates from the treasury, we have put together a quick update on the latest position for applications for Time to Pay (TTP).
What is Time to Pay (TTP)?
Time to Pay provides businesses who are affected by the impacts of Covid-19 with time to pay any outstanding or upcoming tax liabilities.
HMRC’s Time To Pay arrangements will be agreed on a case-by-case basis and are tailored to individual circumstances and liabilities. HMRC will assess the information provided and make a decision on whether the business is eligible for deferment/further deferment of payment.
The nature and type of business and how it has been impacted by coronavirus will be areas of key focus.
Here’s how we can help
We appreciate that many people do not like talking to HMRC on any level and may feel nervous about that.
By working with HMRC on your behalf, we can take that strain away for you, ensuring the best possible chance of securing the best outcome for your business.
There is a process to go through in terms of getting the information together to support the application, of which we would explain thoroughly with you.
What do you do now?
Simply, get in touch. We’re here to help, so if you have any questions regarding Time to Pay, or you would like to make an enquiry, get in touch below.
We can review your finance options and alleviate some pressure, allowing you to focus on what matters most, leading in your business.
COVID-19 Business Helpline
Our dedicated COVID-19 helpline is now live.
If you have any enquiries regarding the ongoing situation and require advice, speak to us via LiveChat.