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PKF Littlejohn Advisory has set up a service to help businesses agree repayment plans with HM Revenue and Customs under the Time to Pay regime.
The firm said the offer is aimed at organisations finding it hard to stay current with their tax liabilities.
The team will handle the Time to Pay process for clients by assessing VAT, pay-as-you-earn, National Insurance and corporation tax debts, as well as a firm’s trading prospects to shape a repayment proposal. It will also carry out checks on recent VAT submissions to ensure firms are not overdeclaring or overpaying.
The service will be led from the company’s Manchester office, which has recently expanded with four senior hires. Partners Paul Reeves, Stephen Clancy and Paul Smith have joined the advisory team alongside Mike Lee, who has taken up the role of director.
Reeves and Lee were involved in the Government Small Business Service’s Company Rescue Pilot Scheme between 2001 and 2003. The initiative was an early model for what is now HMRC’s Time to Pay programme, which allows businesses to agree staged repayment of tax arrears.
Paul Reeves, Advisory and Restructuring partner, 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 in order to make payments to HMRC more manageable.”
Mike 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 ensure that they can continue trading and thereby preserving jobs.
“Time to Pay can help alleviate some of the immediate pressure on firms, while also ensuring future compliance and also repaying HMRC in full.”
