Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she hold discussions with HMRC on the potential merits of extending terms for the collection of taxes from businesses; and if she will make an assessment of the potential impact of doing so on working capital for businesses.

HMRC takes its responsibility seriously to make sure that individuals and businesses who can pay, do so on time. Where taxpayers need additional support, they can enter into payment arrangements with HMRC, allowing taxpayers to pay their tax, including VAT and PAYE, via instalments.

Companies pay Corporation Tax nine months and one day after the end of the accounting period, or in quarterly payments if they are a large company.

At the Spring Statement the Government announced further measures to close the tax gap, to ensure more taxpayers pay the tax they owe.