Reported about 9 hours ago
A study by Premium Credit reveals that 94% of accountants and financial advisers have observed an increase in clients struggling to pay taxes, with the average debt reaching £120,000. Major challenges include rising income tax issues, VAT payments, and Corporation Tax difficulties, driven mainly by tax increases and reduced profit margins. The report anticipates a higher future use of HMRC’s Time to Pay scheme, with 63% of professionals expecting more clients to take advantage of it in the coming years.
Source: YAHOO