DMBM802300 | Time To Pay: Time To Pay requests: additional evidence

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Additional documentary evidence

In some cases we will need the customer to provide documentary evidence in order to fully consider their request for Time To Pay (TTP). Below is a list of the documents that we may request.

A Cash Flow forecasts

We need a cash flow forecast which covers, at least, from the current month to a period extending to three months beyond the end date of the TTP that the customer has requested. The cash-flow forecast should be provided in a receipts/payments format. If the customer is not familiar with this then there is advice on the Business Link website. In most cases the customer should be able to provide a cash-flow forecast almost immediately after the phone call as they will have needed to prepare a cash-flow forecast to formulate their proposals.

B Letter from the bank

We need a letter from the bank showing their current banking facilities. This must:

• be dated - check that it is recent and the facility has not expired

• relate to the company or group requesting the TTP

• show the facilities available to the customer (overdrafts, loans and so on).

C Annual accounts

We need the latest set of annual accounts. If the business is a company, these should be the full financial statements and include the detailed Trading and Profit & Loss Account, which is usually on the last two pages of a full set of accounts. The customer will need to make sure that this is included.

D Management Accounts

If available we need to see any recent management accounts that the company has prepared. (This content has been withheld because of exemptions in the Freedom of Information Act 2000)

E Forecast profit and loss account and balance sheet

If available we need to see a forecast profit and loss account and balance sheet for each month of the TTP request. (This content has been withheld because of exemptions in the Freedom of Information Act 2000)

Other information

If the company has any other information that they feels supports their request for TTP then they should be advised to send it to us.

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When is additional information required

Generally where less than £250,000 is owed we will not ask the customer to provide additional information. However, depending on the case, we may require the customer to supply additional information to us to support their request.

In all cases where £1,000,000 or over is owed we expect the customer to provide a

• cash flow forecast

• bank facility letter

• annual financial statements (accounts)

• management accounts

• forecast profit & loss account and a balance sheet for each month of the TTP period.