HMRC debt collection
HMRC debt and claims to pay it can rapidly put your business in a difficult position. HM Revenue & Customs take debt collection seriously, and if your business is struggling to pay the taxes owed, you must act swiftly to deal with the issue.
Whether you are having difficulties with paying VAT, PAYE, Corporation Tax or any other taxes levied against businesses, it is vital that you engage with HMRC and do not ignore letters from the taxman.
If you do not feel able to talk to HMRC, then you must engage a professional to deal with them on your behalf. Although it can be tempting to avoid dealing with the issues, you are much more likely to reach a good resolution for your business if you act sooner rather than later.
If you have HMRC debt, act now to avoid a winding-up petition
When you have built up arrears with HMRC, this is usually as a result of cashflow problems. However, even if you do not believe you can pay the full amount of arrears owed, you must remain involved in the process and respond to any demands issued in order to avoid the possibility of a winding-up petition.
HMRC debt recovery – what you need to know
It is important to understand the three main areas of concern that HMRC have when dealing with businesses that can’t pay their tax:
- Knowing how much is owed
- Paying the HMRC Debt
- Ensuring the problem doesn’t happen again
Whatever stage you are at with HMRC, you must act today and talk to a business recovery specialst. The sooner you deal with your business challenges, the more likely it is that we will be able to put a business recovery plan in place.
HMRC debts can escalate quickly, but even if you feel like you have reached the end of the road and all hope is gone, please pick up the phone or send us an email. As business recovery professionals, we may be able to suggest a solution you were unaware of.
How we can help with HMRC Debt
We provide business owners with options, guidance and solutions, no matter what the situation. For more information, or a no-obligation conversation about your situation, contact us today, call us on 0333 222 8065 or email firstname.lastname@example.org.