VAT and Tax Payment

Business Payment Support Service

This service takes in to account Income tax, National Insurance, Corporation Tax, VAT and other payments owed to HM Revenue & Customs (HMRC). Subject to approval, it allows you the opportunity to spread the total amount over a period calculated using the businesses/individuals ability to pay over a longer term rather than immediately.

Initially this was to assist with overdue liabilities, however, it also allows for future payments and potential liabilities to be taken into account. This could be one or a combination of all liabilities you have or will have with HMRC.

You can of course negotiate yourself but typically this will be for no longer than 6 months which is inevitably never long enough.

How Can We Help?

HMRC assess each case on its own merits rather than adopting an 'accept all' attitude. This means an independent, professionally prepared 'time to pay' report can often save you time, avoid any potential pitfalls and greatly increase the likelihood of a successful application.

With Cardinal Business Finance you will gain access to a partner whose consultants are recognised by HMRC as offering credible reports. Our reports are specifically tailored to contain all of the information required by the officer reviewing the request.

We at Cardinal Business Finance are independent and as such our consultants will always work with your best interests at heart. This will ensure that the calculation of any structured payment plan meets the demands of your cash flow as opposed to the short term fix that may result from an in house negotiation.

What's The Process?

Through initial discussions, our consultants will undertake a feasibility study to determine if the scheme is believed to be the right solution for you.

If it is agreed that this is the best course of action the first thing that we do is to inform HMRC of our intentions. HMRC will automatically suspend any further work on the case until a report has been provided. This eliminates the need for deadlines and allows the necessary time to prepare the report without HMRC taking immediate action.

A report is then drafted, containing all of the necessary background information, and detailing the proposed repayment program which we submit to HMRC.

Agreement is then reached with HMRC and your cash flow receives a very timely relief.

Call us now on 0115 933 1600.