Oury Clark Blog

The Business Payment Support Service was set up by HMRC in November 2008 to assist businesses encountering cash flow difficulties by allowing then to delay payment of tax within an agreed timescale e.g. payment by monthly installments. If you wish to use this facility you should telephone HMRC on 0845 302 1435. Our experience to date is that HMRC is amenable to any reasonable request.

One of the effects of a reduction in income is that you may become eligible for Child Tax Credits. With savings rates at an all time low and employment increasingly less secure, the potential for a reduction in income is profound. The best starting off point for a claim is to telephone the Tax Credit Helpline on 0845 300 3900. As claims can only be backdated by a maximum of 3 months, it may be advisable to make a protective claim now and follow this up if an when a reduction in income materialises. For your information Child Tax Credits can still be payable in some circumstances where family income reaches £80,000 pa.

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Tags: Child Tax Credits, HMRC, Tax, Tax Credit Helpline, The Business Payment Support Service

This entry was posted on Wednesday, June 10th, 2009 at 12:50 pm and is filed under Chartered Accountants. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.