The «Time to Pay» (TTP) arrangement is a designed scheme to help businesses with temporary cash flow problems. It allows spreading your business tax payments over a longer period of time.
This agreement is reached between the business and HMRC in an affordable way to pay outstanding debts. TTP can cover all outstanding amounts overdue, including penalties and interest.
You can set up a payment plan to spread the cost of your latest Self Assessment bill if:
• you owe £30,000 or less
• you do not have any other payment plans or debts with HMRC
• your tax returns are up to date
• it’s less than 60 days after the payment deadline
Find out how to pay a debt to HMRC with a time to pay arrangement.