Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he plans to reverse the decision on charging interest on deferred PAYE.
The Government has announced an unprecedented package of support for businesses and individuals during the Covid-19 outbreak.
This includes the deferral of certain VAT and Self-Assessment payments in 2020-21, and the waiving of associated interest and penalties.
HMRC have also scaled up their Time to Pay (TTP) service, where individual and business taxpayers can agree tailored plans to defer certain tax payments due, and repay them over an agreed period of time. These arrangements can include any tax or duty administered by HMRC, including PAYE. Interest will continue to accrue on TTP arrangements, in the usual way, to cover the costs to Government of late payment.