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HMRC

If you have outstanding HMRC tax arrears, you should contact a financial expert for advice before contacting HMRC. Our financial experts have vast expertise and experience in helping clients to agree on a TTP (Time to Pay) or other tax repayment arrangements with HMRC to avert implications of defaulting on HMRC tax obligations.

What are the implications of not paying HMRC?

HMRC requires each company to meet tax and VAT obligations within a specified timeline. Therefore, late payments can attract default surcharges or penalties. If you fail to contact HMRC in time, they may decide to take severe measures to recover any outstanding tax arrears, measures like seizing some of your business assets.

HMRC is looking to satisfy themselves that you are making arrangements to pay the debt in good time. HMRC takes an “Enforcement Action” in cases where they learn that an agreement to settle the HMRC tax debt cannot be reached. The action can come in a variety of different forms, including:

  • Forcing closure of your business
  • Serving a winding up petition against your business
  • Hiring the services of a licensed debt collection agency
  • Repossessing and selling your assets to recover the debt

As a consequence, it is advisable to contact HMRC swiftly – ideally with the guidance of a financial expert.

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rescuing their business

At the Insolvency Experts our sole aim is to rescue, recover and renew businesses that are in difficulty. We are specialists in corporate turnaround and help business overcome cash flow difficulties and other financial problems. Our experts:

  • Help you to take the appropriate steps to meet any impending deadlines
  • Have a long track record in helping companies in similar positions
  • Can help you take the best course of action, often using your assets to help you avoid additional cost

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Why Choose Us?

We understand you have already made every effort to avoid insolvency and day to day life is stressful at the moment. We can start immediately and quickly work with you through the process.

We see many examples of great businesses that have fallen on hard times or suffered through no fault of their own.

We understand that the company directors and shareholders have already tried valiantly to carry on trading, but circumstances dictate that this is no longer possible.

  • We Remove Stress
  • We Act Quickly
  • We Are Cost Effective
  • We Are Formally Accredited
  • We Are CVL Experts
  • We Act Confidentially

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