News

Over £5billion in taxes now deferred

UK businesses have now deferred around £5.13billion in tax under 300,000 time-to-pay arrangements, according to figures from HM Revenue and Customs (HMRC).

The Business Payments Support Service (BPSS) was established 15 months ago to help UK businesses survive the financial crisis, by giving them more time to pay outstanding tax bills.

Some financial experts have expressed concern that the scheme is now getting more difficult to join as the government attempts to reduce its costs, but HMRC insists the BPSS is still up and running, and the eligibility criteria have not changed.

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