HMRC - key details on time to pay arrangements

16 March 2020

We outline important details about the Government’s announcement in the recent Budget about a dedicated helpline for businesses needing time to pay for VAT, PAYE and Corporation Tax.

With the next VAT return period being 02/20 due 31/03/2020, if your business needs time to pay for VAT, PAYE and Corporate Tax, make use of the Governments dedicated helpline (0800 0159 559) for advice. 

Make sure you have the following information to hand for that call:

  • VAT or UTR number
  • The amount of the debt on file (so you must have submitted and not paid the VAT return)
  • The number of staff employed and what the payroll costs are for the next 6 months to a year
  • What overdraft facility is available
  • What the directors/partners/sole prop are doing personally to support the debt ie business loans and funding
  • Cash flow projections and plans of how to support business continuity

There is no guarantee that a time to pay arrangement will be granted but it has to be a business continuity remedy that is considered. Usually HMRC will agree 6-9 months, on the proviso that all future returns are submitted and paid. More advice is expected from the Government on this.

Any support needed with approaching HMRC or help considering the wider impacts and implications, please feel free to contact us.