Commentary

V7.405 Cash flow improvement—HMRC's Business Payment Support Service (BPSS)

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.405 Cash flow improvement—HMRC's Business Payment Support Service (BPSS)

Part V7 Tax planning | Commentary

V7.405 Cash flow improvement—HMRC's Business Payment Support Service (BPSS)

When cash is in short supply many businesses will be faced with the decision as to whether they pay their suppliers on time (to keep the flow of goods coming into the business) or the quarterly VAT return on time. The BPSS could ease this dilemma by giving the opportunity for businesses to spread the liability due on their VAT return over a number of months.

The BPSS deals with payments of VAT, National Insurance and other taxes managed by HMRC and is open seven days a week (telephone number 0300 2003835).

Its

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