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HMRC Tax Debt

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 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 of time, 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 to introduce a proposal. A debt solution company must do this to avoid debt recovery action in court. Additionally, if the business is, planning for a shareholder loan to the company then confirm your plans and source of funds
  • 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 business/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.

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