PKF Littlejohn Advisory has announced the launch of their new tax arrears solutions service, aimed at supporting struggling businesses with their tax obligations. The service, which will be available to all organizations, is designed to help businesses agree on realistic and affordable repayment plans through HMRC’s ‘Time to Pay’ regime.
Led by the team at PKF Littlejohn’s Manchester office, the service will involve conducting an assessment of a business’s VAT, PAYE, National Insurance, and Corporation Tax debts, as well as their future trading prospects. This information will then be used to develop a sustainable repayment plan with HMRC. Additionally, PKF Littlejohn can also review a company’s recent VAT submissions to ensure that no overpayments have been made.
The Manchester office has recently expanded its team with four senior hires, including Paul Reeves and Mike Lee, who were both part of the original Government Small Business Service’s Company Rescue Pilot Scheme. This experience makes PKF Littlejohn well-equipped to handle the Time to Pay process on behalf of their clients.
Paul Reeves, Advisory and Restructuring Partner, explains the importance of the Time to Pay scheme for struggling businesses: “Time to Pay can be the difference to help businesses stay afloat, to restructure and to secure their future. This solution enhances our existing toolkit and expands the support we provide to clients.”
He also emphasizes that the service goes beyond simply negotiating a repayment plan: “We will review and investigate a business’s total tax debts and assess their immediate and future trading performance in order to make payments to HMRC more manageable.”
Mike Lee adds: “For many companies, missing or delaying payments to HMRC may be the only option to ensure their survival and to protect jobs. Time to Pay can help alleviate immediate pressure while ensuring future compliance and repaying HMRC in full.”
To learn more about PKF Littlejohn’s tax arrears solutions service, please visit their website at www.pkf-l.com/services/advisory-restructuring/tax-arrears-solutions-time-to-pay.