Festive Holidays…December 8, 2010
Business Record Check…March 4, 2011
HMRC offer the opportunity to spread VAT payments over an agreed time scale to help clients with cashflow issues…
Due to cashflow difficulties HMRC has offered a Time to Pay Scheme where clients can spread their VAT payments over an agreed short time scale, however HMRC are increasingly rejecting applications for use of the scheme.
We would advise all clients to make arrangements to ensure that they have sufficient funds available to pay their VAT when it is due as there is no guarantee that you will be given time to pay, thus resulting in possible penalties and interest being applied to the outstanding amounts.