HMRC offers support to those affected by Carillion collapse ahead of January self-assessment deadline
HM Revenue & Customs (HMRC) will offer support to those affected by the Carillion collapse ahead of the 31 January tax return deadline.
The tax office said it will provide practical advice and guidance to those affected through its Business Payment Support Service (BPSS).
The most recent figures suggest that up to 30,000 subcontractors are waiting to hear whether or not they will be paid after the construction giant was placed into liquidation last week.
According to trade body the Federation of Small Businesses (FSB), small suppliers were made to wait around 120 days to be paid, with some invoices in the hundreds of thousands of pounds.
Meanwhile, Build UK estimates that around 17 or 18 per cent of businesses which are creditors of the company will not make it through the next five years.
HMRC said the BPSS will “connect businesses with HMRC staff who can offer practical help and advice on a wide range of tax problems, providing a fast and sympathetic route to agreeing the best way forward and addressing immediate concerns with practical solutions”.
The BPSS can:
- agree instalment arrangements if you’re unable to pay your tax on time following the Carillion collapse
- suspend any debt collection proceedings
- review penalties for missing statutory deadlines
- reduce any payments on account
- agree to defer payments due to short-term cash flow difficulties