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.
Part of Begbies Traynor Group, Time to Pay Experts is a highly experienced team of business recovery professionals, committed to helping your company deal with HMRC debts. With over 70 offices located up and down the country you are never far away from the expert help and guidance you need to have a TTP arrangement put in place.
We know that HMRC debts can quickly spiral out of control, particularly during challenging trading conditions. However, it is important to remember that HMRC are willing to help those companies who take action and are committed to resolving the situation.
When making a TTP offer a fine balance needs to be struck between suggesting an amount which is affordable to the company, while also being enough to satisfy HMRC and allow your arrears to be cleared in a timely manner. Offer a monthly amount which is too great and HMRC may doubt your ability to stick to the plan; offer too little and you may be rejected outright.
Our experts can put together a solid proposal, which takes into account your company’s financial resources along with the level of outstanding tax debts you have. With strong relationships with HMRC we know exactly how to present your case to those that matter as well as knowing what information they will want to see. We will be there throughout every stage of the negotiation process giving you the greatest chance possible of securing a TTP arrangement for your company.
With the coronavirus crisis having a devastating impact on businesses up and down the country, HMRC are being inundated with calls from worried directors looking for additional time to pay their tax liabilities. The increased demand for this service is meaning some directors are spending hours on the phone, simply waiting for their chance to speak to an adviser. When directors need to be focussing all their attention on ensuring their business is operating as efficiently and effectively as possible, this is proving to be an unproductive use of time and resources.
We can take control of everything for you, from making initial contact with HMRC, through to drafting a payment proposal, and presenting this on your behalf, allowing you to focus on what you do best – running your company.
I tried to arrange a TTP direct with HMRC; however, after spending hours on the phone trying to get through, I decided to seek professional help. My Time to Pay Expert adviser was brilliant and took care of the whole process for me – making the calls and dealing with HMRC so I didn’t have to.
Construction Site Owner
After a period of poor trade I fell into arrears with HMRC. I knew I could pay what I owed; I just needed more time. I contacted Time to Pay Experts to see if they could help. The TTP was arranged in a matter of days and I am now paying back my debt in a way which is affordable for me.
Construction Site Owner
Contacting Time to Pay Experts was the best thing I could have done for my business. I told them about my HMRC debts and how much I could afford to pay and they took care of the rest. The process was handled very well and the TTP was in place much quicker than I thought.
Construction Site Owner
I contacted Time to Pay Experts on behalf of a client who had fallen behind on their tax obligations and needed a payment plan putting in place at short notice. I was highly impressed with the service from start to finish and would not hesitate to use them again.
Construction Site Owner
There is no set qualification criteria set out for Time to Pay arrangements, instead they are offered at HMRC’s discretion. HMRC will consider a number of factors including the amount of tax you owe, how much you can afford to pay back, as well as your past conduct with HMRC. You can greatly increase your chance of successfully arranging a TTP by ensuring you engage with HMRC at an early stage, as well as approaching them with an appropriate payment plan. At Time to Pay Experts we can assist you with this process using over 30 years’ experience to negotiate terms with HMRC.
Time to Pay arrangements are not new, however, in light of the escalating coronavirus crisis, HMRC has eased the restrictions making them a viable option for more businesses. HMRC are aware that many companies will be feeling the financial strain caused by the unprecedented business disruption currently being experienced and they have responded by offering these companies a helping hand when it comes to settling their outstanding tax affairs.
As a general rule, Time to Pay arrangements typically run for a maximum of 12 months, however, as HMRC are keen for delinquent accounts to be brought up to date as quickly as possible, you may be offered a shorter-term arrangement should they believe your company can afford to sustain a larger monthly repayment amount.
HMRC debts are often split over several different taxes, such as Corporation Tax, VAT, and PAYE. If this is the case then HMRC will request that all accumulated tax debts are included in any proposed Time to Pay arrangement. This benefits HMRC as you will be paying off all of your company’s tax debts at once, and this is also reassuring to you as a director as you know that all your existing tax debts are being repaid through one monthly repayment.
Your monthly instalment amount will depend entirely on your level of HMRC debt and also the amount your company can realistically afford to pay towards this. When making a Time to Pay proposal to HMRC you need to strike a delicate balance between offering an amount your company can comfortably sustain throughout the term of the agreement, while also ensuring it is a substantial enough amount that will see your account brought up to date as swiftly as possible. At Time to Pay Experts we can work with you to put together a proposal which satisfies HMRC while also remaining affordable for your company throughout the duration of the payment plan.
Time to Pay arrangements only cover outstanding debt you have to HMRC; any upcoming taxes due to HMRC will need to be paid in the usual way. It is vital that you keep up with your current tax obligations while in a TTP arrangement; fail to do so and HMRC may well cancel the arrangement and demand payment is made in full to cover both existing and past tax debts.
Time to Pay Experts have been helping company directors negotiate with HMRC for over 30 years. When entering into Time to Pay discussions it always helps to have a professional on board to conduct the negotiations on your behalf. Using our unrivalled experience, we can approach HMRC with a carefully considered proposal which takes into account your debt levels and ability to repay. We have a strong relationship with HMRC forged through years of professional dealings, meaning we know exactly who to approach, the information HMRC will want to see, and how to frame your case in the best way possible. We take care of all the negotiations on your behalf, maximising your chances of success while also allowing you to channel your energies into running your business. Following a payment plan being implemented we can keep in touch throughout the TTP term providing expert help and advice as you get your company back on track.