Monday 1 December 2008

Paying PAYE, VAT and other taxes

When a cash flow forecast for a business is prepared, significant items include PAYE, VAT and other taxes.

The Chancellor announced the "Business Payment Support Service" to potentially allow tax debts to be paid over a longer period of time. Interest is still charged, but late payment surcharges an be avoided.

Details at:
http://www.hmrc.gov.uk/pbr2008/business-payment.htm

Whilst this service could be extremely useful, it should be used with care.

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