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The
government’s Time to Pay scheme to help SMEs
will be extended for the next parliament, it has been announced.
The scheme has been credited as a recession-beating measure, and it is likely
that ending it now would cause many businesses who currently rely on it to fold.
Businesses using the scheme have deferred £5 billion of tax payments over a
longer period of time that they could afford.
Up to 160,000 businesses have benefited from it so far, and £4 billion of the
tax has been repaid.
Source: Credit
Control Journal
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