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PKF Littlejohn Advisory has launched a new tax arrears solutions service to help businesses agree realistic and affordable repayment plans through HM Revenue and Customs’ (HMRC) Time to Pay scheme.
The firm’s team will oversee the Time to Pay process by assessing a company’s VAT, PAYE, National Insurance and Corporation Tax liabilities, as well as its trading prospects, to determine a sustainable repayment plan. PKF Littlejohn will also review recent VAT submissions to check for potential overdeclarations or overpayments.
The new service will be led from PKF Littlejohn’s Manchester office, which has recently expanded with four senior hires: partners Paul Reeves, Stephen Clancy and Paul Smith of PKF Littlejohn Advisory UK LLP, and Mike Lee, director at PKF Littlejohn.
Reeves and Lee were part of the government’s original Small Business Service Company Rescue Pilot Scheme, which ran between 2001 and 2023 and paved the way for the current Time to Pay framework.
Reeves said: “Time to Pay can be the difference to help businesses stay afloat, to restructure and to secure their future. This solution enhances our existing toolkit and expands the support we provide to clients.
“However, we don’t simply negotiate a Time to Pay framework on behalf of a business. We will review and investigate its total VAT, PAYE, National Insurance and Corporation Tax indebtedness and assess its immediate and future trading performance to make payments to HMRC more manageable. Once our assessment has been completed, we will seek agreement of an appropriate repayment plan, helping to ensure the future survival of the business. Using a trusted, expert firm like PKF will give HMRC further confidence in the plan.”
Lee added: “Companies throughout the UK and across almost every sector are struggling with rising costs and other pressures. While no business wants to be in a position where they are missing or delaying payments to HMRC, the reality is that, for some companies, it can be the only option to continue trading and preserve jobs. Time to Pay can help alleviate some of the immediate pressure on firms while ensuring future compliance and full repayment to HMRC.”
