Payment delays paying off

Jan 17 2009 by Henryk Zientek, Huddersfield Daily Examiner

MORE than 100 firms in Kirklees have taken advantage of a new system giving companies more time to pay their taxes.

Figures from HM Revenue and Customs show that 11 businesses across the district have been able to delay paying £2.1m in taxes after contacting its Business Payment Support Service in the past six weeks.

Seventy-five firms across Calderdale have also opted to hang on to £1.1m under the scheme.

The scheme allows companies to pay all their HMRC taxes, including PAYE, National Insurance and VAT, through payment timetables they can afford.

Across Yorkshire more than 1,700 firms have taken up the scheme, enabling them to delay paying more than £30m after reaching agreement with the BPSS.

In one case a financial services company reached an agreement to spread payments totalling £23,000 to help improve cash flow.