Struggling businesses helped by HMRC

Over 160,000 businesses have been helped so far by the Business Payment Support Service (BPSS), HM Revenue & Customs has revealed.

The service, which started in 2008, has so far helped businesses reschedule over £5 billion in tax.

The BPSS provides businesses experiencing short-term difficulties with the opportunity to reschedule their tax payments, offering a 'time to pay' arrangement.

A wide range of different businesses have benefited from the scheme, including those in retail, manufacturing, transport and engineering.

Stephen Timms, financial secretary to the Treasury, said: "The scheme will remain in place as long as necessary, as we want to continue to help businesses through the difficulties they are facing."
He added that small businesses were very important to helping the British economy recover.
Businesses accepted for an arrangement through the BPSS will not be charged late payment charges, but will still be charged interest on their taxes where it applies.

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