The devil's in the detail - Business Payment Support Service "BPSS"
When the Chancellor announced in the Pre Budget Report that a special service was being set up to help businesses hit by the Credit Crunch there was no mention that the service would in reality be limited to very small businesses and small debts. This however is what in practice it has proved to be.
Taxpayers who ring the BPSS can only expect to get an immediate decision for debts under £10k. For debts between £10k - £100k the BPSS will be able to deal with them but they will be looked at in much more detail.
Amounts in excess of £100k will not be dealt with by the BPSS but will be referred to the local HMRC office.
Was this another knee jerk reaction by Government which was not properly thought through before being announced? Or was it always intended that only small businesses would benefit? If so, the Chancellor should have spelt this out!
On a positive note, the BPSS has authorised the deferral of £440m of tax so far - so it clearly has met a real business need - even if it is only for smaller businesses.
Perhaps we should not look this particular gift-horse in the mouth!
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