Time to pay scheme extended to accountancy firms and partnerships
HM Revenue & Customs (HMRC) has announced that the Business Payments Support Service (BPSS) has been extended to include all partnerships.
A spokesperson for Smith & Williamson accountancy firm told Accountancy Age magazine that, previously, the BPSS was unsuitable for partnerships because the taxable profits are allocated to each of the individual partners. Partnerships can now arrange a joint agreement through the BPSS.
To read more on this story go to:
http://www.accountancyage.com/accountancyage/news/2255599/pay-lifeline-open-firms
