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Over 60,000 businesses have agreed time to pay tax arrangements with HM Revenue & Customs totalling more than £1bn.

The Business Payment Support Service announced by the chancellor in November's Pre-Budget Report provides a fast track service that offers support to businesses needing more time to pay their tax bills. Stephen Timms, financial secretary to the Treasury says: "I'm delighted that HMRC's Business Payment Support Service is proving such a huge success, already providing a cashflow boost worth over a billion pounds to UK businesses.

"This service is delivering the kind of tangible support that business needs at this time. I would urge any business anticipating or experiencing difficulties paying their tax to call the helpline and get a quick response tailored to their specific needs."

If you are in need of some extra time to pay your taxes this is a great reprieve, but it's also a sign that maybe your finances are not in the order they should be in. If you can't get your taxes in order, how can you be sure that your other finances are in order?

A successful business in 2009 is one that has everything in order – tax returns, income, outgoings, financial responsibilities and debts. If this isn't the case for you, it's time for a financial MOT. That means going to a financial adviser and letting them help you get straight and get back in the black.

SOURCE: HMRC, 12/02/09

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