Pressure from HMRC
When businesses face financial difficulties it is all too easy for business owners to use monies set aside for tax liabilities to pay more vocal and pressing creditors. If the tax liabilities remain unpaid, HM Revenue & Customs have extensive powers to recover their debt. The experienced team at Restart BTi are ready to help you deal with your HMRC debt.
What is HMRC debt?
His Majesty’s Revenue and Customs (HMRC) is the UK Government’s official department for collecting taxes. For businesses, this includes National Insurance, VAT, tax credit payments and more. Tax on your business is compulsory, such as income tax, and there are serious penalties for your company if you are unable to pay, or have missed payments. If you’re placed in a position where you’re unable to pay your owed debts to HMRC, then you will need specialist help from one of our reliable Insolvency practitioners to help you find a fair solution.
What options are available to assist with HMRC debt?
If you have recently received a tax bill to your business from HMRC that you’re unable to pay, there is an option before insolvency . With the guidance of a licensed practitioner, you may be able to find a fair and effective solution to pay off your bill by way of a time to pay agreement.
What is the HMRC Time to Pay Arrangement?
The HMRC Time to Pay Agreement is simply an arrangement that enables you to pay off your tax liabilities over an agreed period of time Our Licensed Insolvency Practitioners can assist to set this agreement up. The agreement should be fully achievable as if any future payments are missed then insolvency may be the only remaining option.
What happens if a time to pay agreement is not reached?
If an agreement cannot be reached between yourself and HMRC, then our Licensed Insolvency Practitioners will advise you on the best course of action for you and your business.
Get expert advice from Restart BTi
If you’re struggling to pay off your HMRC debt and need help, then you’re not alone. Our experienced and trained professionals are here to help find the most ideal situation for you. We’ll work with you and HMRC to reach an effective agreement that prioritises you and your business.
To receive tailored advice from one of our experts on your situation, simply fill out the contact form below, and we’ll get in touch.
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Restart BTi
Suite 44 Dunston House
Dunston Road
Chesterfield
Derbyshire
S41 9QD
- 01246 959 388
- Fax: 03333 444 993
- Email: enquiries@restartbti.co.uk
Restart BTi is the trading name of Restart Business Turnaround Insolvency Limited, a limited company registered in England and Wales no: 11517419
Registered Office: Suite 42 Dunston House, Dunston Road, Chesterfield S41 9QD
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