Wiltshire accountants Clear Vision offer solution for business owners to deal with their tax payments...

Back in November 2008, HM Revenue & Customs ("HMRC") announced a new dedicated 'Business Support Service' to help business owners and individuals to pay their tax bills.

This service adopted a 'time to pay' approach, agreeing suitable tax payment plans for those struggling during the recession.

It seems the approach has been successful, with an estimated £5bn worth of tax payments reported as being deferred since the launch of the service.

However, recent research reveals that HMRC is now tightening up on tax payments once again and requests for the deferral of larger VAT payments are now being refused. Figures obtained under the Freedom of Information Act suggest that smaller businesses wishing to defer a tax payment of over £19,000 could be in trouble.

Clear Vision is pleased to announce a solution for UK businesses. As Director Rachel Brotheridge says:

"With the HMRC now being less accommodating, UK business owners can and should be taking appropriate action to make sure they are not caught out by sizeable tax payments they have not made provisions to pay.

The solution is producing interim management accounts. These 'bridge the gap' between annual accounts, allowing the business owner to predict their income and cashflow regularly throughout the year. In the same way, the level of tax bills can be predicted and planned for.

We strongly recommend that every UK business should be 'keeping the score' like this at this time. The payback on the production of the interim accounts is enormous and can be felt on an ongoing basis."

Business owners are invited to discuss their interim management accounts with Rachel, by calling her on 01249 712074 or by email: rachel.brotheridge@cvag.co.uk.