HMRC 'streamlines' business services - commercial mortgages

01 April 2009

A series of measures have been introduced by the government that could assist commercial mortgages customers with their tax affairs.

This month will see a new system being implemented by HM Revenue & Customs (HMRC), aimed at streamlining the way in which businesses work with the organisation.

It means that HMRC will use one set of powers to cover income tax, corporation tax, VAT, capital gains tax and PAYE, a move that is hoped will lead to less confusion among firms.

"These initiatives will provide businesses with more consistency, certainty and faster online processing of key documents," commented permanent secretary for tax Dave Hartnett.

Meanwhile, companies wishing to approach lenders for finance, such as loans, overdrafts or commercial mortgages, have been advised to ensure they have a "solid" plan in place beforehand.

George Derbyshire, the chief executive of the National Federation of Enterprise Agencies, said: "It's no good turning up at a bank with an ill-conceived plan."

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