HMRC & Tax Policy: Time to pay arrangements

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HMRC & Tax Policy: Time to pay arrangements

April 8th, 2020, Legal Updates, News
Corporate Tax Lawyers

The government will introduce a new “time to pay” (TTP) scheme, to help businesses and self-employed individuals manage their cash flow in light of financial difficulties caused by COVID-19.

There will be a dedicated helpline and bespoke arrangements will be offered to enable taxpayers to defer tax liabilities for a time-limited period.

Interest and penalties arising from the late payment of tax as a result of COVID-19 or from administrative difficulties in contacting HMRC will be waived.

For further questions in relation to tax-related issues in general or on the above article, please contact James Cohen directly on jcohen@gscsolicitors.com or 0207 822 2257.

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