Chapter 1 - 4.5 - Payment Support Service Flashcards
1
Q
What does the HMRC PSS do?
A
HMRC Payment Support Service assist businesses and individuals who cannot pay the tax they owe by the relevant deadline
2
Q
How do taxpayers avoid any penalties when using the PSS?
A
They should contact the PSS before the tax is due
3
Q
What may HMRC offer the tax payer?
A
A ‘time to pay’ TTP arrangement (payment by instalments)
4
Q
What happens if the taxpayer makes payments in accordance with the TTP arrangement?
A
Late payment penalties will not be charged, but interest will be charged from the normal due date until the amount is payed
