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If your company is facing temporary cash flow problems and is likely to have issues with paying tax liabilities due, it may be possible to negotiate an arrangement with HMRC to pay over a longer period of time.
A Time To Pay (TTP) arrangement is designed to help businesses that are fundamentally viable but may be experiencing temporary cash flow problem and may not be suitable for everyone. The TTP allows arrangement allows for your debt to be paid to HMRC in monthly instalments, typically over a period of 12 months.
HMRC are more likely to agree to a Time to Pay arrangement if your tax affairs have been handled well in the past, however we can still try to help even if there is a history of poor compliance in the past.
Whatever your circumstances it is always advisable to contact HMRC as soon as possible or contact us for specialist advice.
Paul Bailey FABRP, Tom Ahmad FABRP ACA, Matt Reeds MABRP and Kirren Keegan MABRP are licensed to act as Insolvency Practitioners in the UK by the Institute of Chartered Accountants in England & Wales
Paul Bailey FABRP, Tom Ahmad FABRP ACA, Matt Reeds MABRP and Kirren Keegan MABRP are licensed to act as Insolvency Practitioners in the UK by the Institute of Chartered Accountants in England & Wales
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