The Travel Trade Consultancy (TTC) has compiled five things to think about when negotiating time to pay with HMRC.
It said on its website: “Whilst many of you await the finer details around the Coronavirus Business Interruption Loan Scheme and various cash grants coming down the track, there are some quick wins that will enable you to keep more cash in the business.
“One way, if you’re experiencing financial difficulty, is to negotiate a time to pay with HMRC for upcoming VAT, PAYE and corporation tax liabilities.”
There is a specific HMRC coronavirus helpline for negotiating time to pay (0800 0159 559). But before picking up the phone, consider the following, says TTC.