“Get on the front foot” by Gary Brothers, partner at Independent Tax and Paul Rippon, Assistant Manager, Independent Tax

Gary Brothers and Paul Rippon explain how HMRC’s Time to Pay arrangements work, and have some top tips and pitfalls to avoid.

In the aftermath of the Covid-19 pandemic, and with the closing of the government furlough scheme, we all know that businesses and individuals up and down the country have experienced serious, unforeseen financial difficulties.

Given the government imposed Covid restrictions, limits to normal levels of business trading has meant that, while many businesses now have debtors to chase, they also have hefty creditors, with HMRC being one of the more hungry and active of them!

This is why the prospect of negotiating a Time to Pay (TTP) arrangement with HMRC could provide that much needed financial flexibility, and be an attractive option for many.

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