CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Nick Haggitt, director of IGF Invoice Finance, comments on HMRC changes to Time to Pay arrangements
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Nick Haggitt, director of IGF Invoice Finance, comments on HMRC changes to Time to Pay arrangements PDF Print E-mail
Friday, 07 August 2015

“HMRC’s changes to the Time To Pay (TTP) arrangement, which come in to force this week, may impact small businesses who already struggle financially. By switching payment collection to Direct Debit, these organisations will be required to have enough funds in their account on exactly the right day to deliver the payments required, or face further penalties from HMRC.

“The very nature of TTP is to aid businesses that have previously fallen into arrears with their HMRC payments, allowing them to catch up on monies owed, in a more manageable way. Many of these same companies often suffer from a lumpy cashflow , so appropriate preparations must therefore be made for this new system.
 
“Despite the additional pressure these changes may place on some firms, it’s a sign that the Government now believes small and mid-sized companies are able to handle more rigour in their tax payments and repayments, which suggests confidence in the growing economy. Nonetheless, we would equally urge a focus on continuing to extend credit to SMEs and on late payments to SMEs by their large company counterparts. One of the biggest pressures on small firms is not the Government increasing the frequency of tax collections but the ongoing failure of large firms to pay their suppliers on time.”

(Source - IGF Invoice Finance Comment)
 

 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197