Dealing with tax arrears
Your business may be able to negotiate additional time to pay its tax debts with HM Revenue & Customs.
If your business falls behind on its tax payments, whether it’s VAT, corporation tax, PAYE or National Insurance contributions, HM Revenue & Customs (HMRC) is likely to quickly alert you and, if necessary, take action to recover the money.
HMRC will alert you about your business’ debt by sending you a warning letter. Often, these letters give you just seven days to respond and pay the money you owe.
To avoid this kind of enforcement action, contact HMRCLink opens in a new window as soon as you know you’ve missed a tax payment or won’t be able to pay on time.
If your business is unable to pay what it owes to HMRC, you might be able to set up a Time to Pay (TTP) Arrangement. There are alternative arrangements too. Read on to find out more.
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