THE repercussions of the Carillion liquidation are far-reaching.
Particularly for those firms who worked for Carillion and are now worried about being paid.
The Government has said it understands that many businesses that were contracted to Carillion will be concerned about their ability to pay their tax.
So, as part of its ongoing commitment to delivering support for businesses, HMRC is providing practical advice and guidance to those affected through its Business Payment Support Service (BPSS).
The Business Payment Support Service is a dedicated HMRC resource available to any business struggling to make their tax payments as a result of economic conditions.
How will BPSS help you?
The BPSS connects businesses with HMRC staff who will be able to offer practical help and advice on a wide range of tax problems, providing a fast and sympathetic route to agreeing the best way forward and addressing immediate concerns with practical solutions, the HMRC said.
What BPSS can do
- Agree installment arrangements if you’re unable to pay your tax on time following the Carillion collapse.
- Suspend any debt collection proceedings.
- Review penalties for missing statutory deadlines.
- Reduce any payments on account.
- Agree to defer payments due to short-term cash flow difficulties.
HMRC can also provide workers and their families with cash support through the Tax Credits system should it be required.
Leave A Comment