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Accelerated Payment Notice

For anyone who receives an accelerated payment notice detailing tax issues with their business, it can be a worrying time and a complex issue to try to proceed with. Here at The Insolvency Experts, we have a wealth of experience dealing with a variety of insolvency issues, including accelerated payment matters, with our highly skilled team able to advise our clients on exactly the right steps to take for themselves and their business.

Should you wish to know any more about our range of services with regards to HMRC accelerated payments and their impacts on your business, there is a range of information on this page. If you wish to speak to an expert on accelerated payment notice issues, you can get in touch with our team by phone or email today.

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According to the Director General for Enforcement and Compliance at HMRC, as of 2016, HMRC is now issuing over 3,000 Accelerated Payment Notices per month.

Four Key Questions on Accelerated Payment Notices


What is an Accelerated Payment Notice?

An accelerated payment notice (APN) is a notice from HMRC demanding retribution towards tax that hasn’t been paid due to the use of a tax avoidance scheme. If you’ve used a tax avoidance scheme to try and save money for your business, you may be served an APN asking for payment to be made. This is something that must be dealt with as soon as possible.

Whether the APN is something you were expecting, or something that has come as a total shock, it is vital that you find the support of a trusted insolvency expert as soon as you are made aware. This is to ensure that you take the correct steps going forward with regards to any HMRC accelerated payment issues. Our team are well versed in the financial laws in this area and can advise you in-depth on the specific terms of your accelerated payment notice.
 

How do I deal with an Accelerated Payment Notice?

When it comes to understanding how to best respond to your accelerated payment notice, it is important to know the key regulations on how the procedure works, which are as follows:

  • You have 90 days in which to pay an APN
    This may sound like a good amount of time, but it actually isn’t a lot of time in practice. Fail to pay your APN in that window of time and you’ll be liable for an additional 5%, with further charges added on if you continue to be unable to pay your HMRC payment arrears. That’s why it’s vital that you seek advice as soon as you receive an accelerated payment notice, especially if you don’t think you can repay it in full; having the representation of a financial expert can go a long way.
  • You can’t simply choose to avoid payment
    HMRC has Direct Recovery of Debts (DRD) access, which means that in the event that you don’t repay the amount listed in your accelerated payment notice, then HMRC can simply take the funds directly from your bank accounts to help cover the costs. This, coupled with the PR nightmare of being one of those businesses viewed as trying to avoid paying their fair share in taxes, mean it’s even more important to seek trusted debt advice to rectify the problem in the correct manner.

 

Who can help with an Accelerated Payment Notice?

An insolvency expert can help you toresolve anyHMRC payment arrearsas quickly as possible, ensuring that they are fully dealt with in a way that protects your financial interests as far as possible. Don’t trust any service who claim to be able to get you out of paying these sorts of financial notices; if it sounds too good to be true, it probably is, so you’ll want to find an expert who gives you a clear and honest assessment of your financial outlook at all times.

Any time that you receive demands for money from HMRC, especially when it’s a new advance payment like an accelerated payment notice, it can cause headaches with your business finances and potentially lead you down the road of insolvency. Speak to an expert financial team to seek help on dealing with an accelerated payment notice in the UK today. If this is your current situation, The Insolvency Experts can offer a strong track record in helping clients in a similar situation.

 

How do I find an expert in Accelerated Payment Notices?

To discuss any financial issue that your business may be facing, including anything related to accelerated payment notices, you are welcome to contact The Insolvency Experts online today and we’ll get back to you as soon as we can. There is a wealth of information across our site and our team will be able to respond swiftly to any email or completed enquiry form with regards to HMRC payment arrears and many other financial issues.

To speak directly to one of our team about the range of financial services that The Insolvency Experts can offer with regards toaccelerated payment notices, you can call our team of financial specialists directly on 0300 303 8284 or request a call back for a time that suits you best. We would be more than happy to discuss helping the needs of your business.

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