CIOT: Small business time to pay scheme extension welcomed
The Chartered Institute of Taxation (CIOT) has welcomed the Chancellor’s agreement to extend HMRC’s time to pay scheme for ‘as long as needed.’
John Whiting, Tax Policy Director of the CIOT, said:
“The CIOT has seen evidence of how the current scheme has helped many businesses of all sizes survive the current economic downturn. The extension of the scheme will help those businesses that need help to continue into the upturn.”
It has been reported that 160,000 businesses have used the scheme and the majority of these are now repaying their taxes in accordance with agreements reached with HMRC.
Notes to editors
The Chartered Institute of Taxation (CIOT) is a charity and the leading professional body in the United Kingdom concerned solely with taxation. The CIOT’s primary purpose is to promote education and study of the administration and practice of taxation. One of the key aims is to achieve a better, more efficient, tax system for all affected by it – taxpayers, advisers and the authorities.
The CIOT’s comments and recommendations on tax issues are made solely in order to achieve its primary purpose: it is politically neutral in its work. The CIOT will seek to draw on its members’ experience in private practice, government, commerce and industry and academia to argue and explain how public policy objectives (to the extent that these are clearly stated or can be discerned) can most effectively be achieved.
The CIOT’s 14,900 members have the practising title of ‘Chartered Tax Adviser’.
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George Crozier
External Relations Manager
D: +44 (0)20 7340 0569
M: +44 (0)7740 477374
The Chartered Institute of Taxation
Registered charity number 1037771
www.tax.org.uk
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