HMRC Tax Debt
The HMRC Time to Pay (TTP) Arrangement would allow struggling businesses to repay their outstanding Corporation Tax, PAYE/NI, VAT and other HMRC liabilities in instalments, rather than in one go. Usually, Time To Pay Arrangements last for 12 months. However, they may last longer if there is a realistic prospect that the debt will be repaid eventually.
What We Aim To Do:
HMRC liabilities will not simply disappear overnight, but seeking a Time to Pay Arrangement has its advantages:
- We will be spreading out the repayment of debt over a period, rather than all at once. This will improve cash flow and ensure affected businesses have money to pay other outgoings such as rent, wages and suppliers.
- We aim to carefully examine the business’ management accounts and would appreciate any source of funds the business is seeking in order to introduce a proposal. A debt solution company must do this to avoid debt recovery action in court. Furthermore, if the company is considering a shareholder loan, be sure your plans and funding sources are confirmed.
- Opting for a Time to Pay Arrangement will demonstrate a willingness to repay liabilities. This helps businesses remain on good terms with HMRC.
- Proactively seeking Time to Pay will decrease the likelihood of HMRC taking enforcement action against a business or company.
You can contact our debt advisors on 0203 318 0990 for a free and no-obligation personal appointment to discuss your full case, HMRC tax bill and current enforcement action by HMRC against you.
Our Experts have written some valuable and informative blogs on HMRC Tax Debt and Debt Solutions of HMRC Tax Debt. We have listed them down for you here:
HMRC PAYE Tax Arrears – Debt Management
Click to know from our experts what would happen if you have HMRC PAYE Tax Arrears & how can you manage the Debt in this situation
HMRC Time To Pay Arrangement Debt Plan
Click here to read about HMRC Time To Pay (TTP) Arrangement Debt Plan, our process on TTP Debt Plan & requirements of TTP Arrangement
HMRC Tax Debt – Time to Pay Arrangement - Debt Solution
Are you wondering how to pay HMRC Tax Debt? Know from our experts how you can pay it efficiently with the help of Time to Pay Arrangement
