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HMRC Debt Types

HMRC Debt Types

HMRC are by far the biggest creditor of businesses in the UK. For the vast majority of businesses which experience financial distress, it is likely that HMRC will be amongst the creditors the company owes money to.

The issue is that a company’s obligation to HMRC is spread across various elements of the tax system. From PAYE and VAT, through to Corporation Tax and National Insurance, HMRC debts can quickly escalate out of control once a company begins to feel financial pressure building.

The good news, however, is that HMRC are prepared to engage with companies who demonstrate a proactive desire to bring their arrears up to date.

60 Second Assessment

How the Process Works

Our team are highly experienced in setting up Time to Pay arrangements for company directors just like you. Here is how the process works:

1. Initial Assessment

Call the Time to Pay Experts who will assess your situation and let you know whether a TTP arrangement is suitable for you and your company.

2. Negotiations

Using the information you provide, we will draw up a suitable payment proposal and present this to HMRC on your behalf. We will remain on hand to handle any contact or negotiations with HMRC throughout.

3. Approval

Once your TTP has been approved we will remain in contact with you throughout its duration to provide any additional help and support your business needs.

Who are the

Time To Pay Experts?

We are an experienced team of business rescue and recovery experts, committed to helping limited company directors and sole traders deal with their HMRC debts.

Benefit of using TTP Arrangement Experts:

Over 30 years’ experience

Strong relationships with HMRC

Support from start to finish

Nationwide coverage

As part of Begbies Traynor Group, we have an extensive network of experienced advisers across the country ready to help you deal with your HMRC debts.

Comprehensive service

From making the initial call to HMRC, through to handling the negotiations on your behalf, your dedicated adviser will be with you every step of the way.

Maximise your chance of success

Thanks to our extensive experience with HMRC we can present your case in the best way possible, greatly increasing your chances of a successful outcome.

More about HMRC Debts

If you are in debt to HMRC, the important thing to remember is that communication is key; fail to address your problems and HMRC are going to be less responsive to your pleas for additional time to pay. However, if you take early action to resolve the situation by contacting HMRC to put a plan in place, they are likely to be more willing to help you resolve your situation.

These types of negotiations with HMRC typically involve entering in to an arrangement known as a Time to Pay – or TTP for short. A TTP arrangement is where HMRC allow you to pay your tax arrears over a set period of time at a rate which is manageable for your company. In the majority of cases you will be given up to 12 months to bring your HMRC debts up to date, giving you the breathing space you need.

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A TTP arrangement allows you to include multiple HMRC debts into one agreement – indeed if you owe HMRC across more than one type of tax, you will be required to include them all. Tax debts which can be included are:



Corporation Tax

Income Tax

While HMRC are demonstrating more leniency when it comes to allowing companies to enter in to TTP arrangements in light of the coronavirus pandemic, this does not mean every business in tax arrears will be granted one. HMRC need to be convinced that your company is viable in the long-term and that it will be able to keep up to date with any possible TTP payment plan.

Enlisting the help of a TTP expert can greatly increase your chance of successfully implementing a payment plan for your company. At Time To Pay Experts we can negotiate with HMRC on your behalf, harnessing years of experience to maximise your chances of success. By assessing your company and its financial position, we can approach HMRC with a carefully considered proposal which takes into account the level of debt you have and also your ability to pay this back.