Smith & Williamson part of Time to Pay panel
Smith & Williamson has been selected by HMRC to participate in a panel of firms to supply independent business reviews to companies planning to apply for Time to Pay (TTP) either directly or through the Business Payment Support Service. This panel has been set up following an announcement in the December 2009 Pre-Budget Report that where a business applies for TTP on a debt of £1m or more, HM Revenue & Customs (HMRC) will require the business to commission, at its own expense, an independent business review (IBR).
It was envisaged that a suitably qualified professional adviser should carry out the review. Following an informal consultation process with insolvency practitioners, banks and other groups, various firms were invited to submit their credentials for inclusion on a formal panel. Following these submissions 12 firms have been selected by HMRC.
“We’re delighted to be selected to be part of this panel,” says Panos Papas, Restructuring and Recovery Services associate director at Smith & Williamson. “Each case will no doubt be judged on its merits. With the benefit of the further information provided by the IBR, this decision should be easier for HMRC, which means a quicker response for businesses.”
Read the Accountancy Age article
For further information, contact:
Panos Papas, Restructuring and Recovery associate director
Email Panos Papas
PR queries to
Jess Koslow/ Kate Harrison 020 7131 4264/ 4228
Disclaimer
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
Note to editors
Smith & Williamson is an independent professional and financial services group employing around 1,500 people. The group is a leading provider of investment management, financial advisory and accountancy services to private clients, professional practices and mid-to-large corporates. It operates from offices in London, Belfast, Birmingham, Bristol, Dublin, Glasgow, Guildford, Salisbury, Southampton and Worcester.
Smith & Williamson Limited
Regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities. A member of Nexia International.
