APNs issued

Accelerated payments came into force as part of the Finance Act 2014, removing the cash-flow advantage from those whose tax avoidance schemes are pending resolution reportHarris & Co accountants Northampton #accountantsnorthampton

By January 2015, HMRC expect to issue 2,500 accelerated payment notices per month and say they are on track to deliver notices to 43,000 tax avoidance scheme users, covering £7.1 billion of disputed tax, by the end of March 2016.

Despite recipients having 90 days to pay the tax demanded in the notices, avoidance scheme users have already begun to contact HMRC and to arrange to make payments. According to HMRC, more users are choosing to contact them about settling their tax affairs rather than wait to receive an accelerated payment notice.