If you are struggling to keep up with your financial obligations to HMRC, you are not alone. HMRC is the biggest creditor of limited companies in the UK and a source of much financial distress to business owners.
Open and honest communication with HMRC is vital if you are experiencing problems keeping up with what you owe. It is often possible for companies to enter into a payment plan with HMRC known as a Time to Pay (TTP) arrangement. This allows for tax arrears to be paid back through a series of affordable instalments for up to 12 months.
In order for HMRC to agree to such an arrangement, you must prepare a solid proposal which demonstrates your company’s ability to pay. A balance between offering enough to clear the debt in a reasonable time while also proposing an amount which your company can realistically sustain is key.
Time to Pay Experts have over 30 years’ experience negotiating with HMRC on behalf of company directors to get a TTP arrangement agreed. Using their extensive experience and harnessing their relationships with HMRC means they know how to present your case to those that matter as well as knowing exactly what information they want to see.
Time to Pay Experts can take care of the whole process, from initiating contact with HMRC, through to drafting and presenting a carefully considered proposal, through to handling all negotiations on your behalf.