Time to Pay

A Time To Pay (TTP) arrangement is a debt repayment plan relating to your outstanding taxes with HMRC; usually VAT, PAYE, NI and Corporation Tax.

When businesses ask HMRC for extra time to pay, depending on your circumstances, HMRC will usually agree to a payment plan over a period not exceeding 12 months.

HMRC will support businesses that are financially viable but experiencing temporary cash flow problems. If you have historically had a good payment record and file your returns on time, HMRC will consider you for a TTP plan.

Key Points on TTP

  • Address the problem before you reach the payment date
  • Contacting HMRC before they contact you may help to avoid late payment penalties
  • HMRC will want to understand why you can’t make the payment date and that you have the intention of paying in full the outstanding amount
  • Make sure that you commit to a payment plan that you can afford. Failure to pay could result in the plan being cancelled and penalties being applied to the outstanding debt

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