HMRC Tax Arrears & Time to Pay Arrangements

At Gibson Booth, we deal with many businesses that have fallen behind with their payments to HMRC, often as a result of bad debts or other unexpected expenses.

If you have tax arrears, it’s important to put in place appropriate measures as soon as possible, to help you to effectively manage your repayments while maintaining cash flow.

Business with arrears may benefit from the government’s Time to Pay Arrangements, which allow the business to repay any outstanding tax, such as PAYE/NI and VAT liabilities, in instalments.

A Time to Pay Arrangement normally lasts for a defined period of around 6 or 12 months, although this can vary. By spreading your tax liabilities over time, entering into such an agreement can help to support cash flow and allow the business to continue making other essential payments.

By seeking a Time to Pay Arrangement, you are also likely to remain on more positive terms with HMRC.

If you are experiencing problems with making your tax payments on time, we can help. The experienced team at Gibson Booth will work with you to establish your requirements, and put together a repayment proposal for HMRC, which outlines the financial circumstances behind the tax arrears and details the intended repayments.

We can liaise with HMRC on your behalf during this process, helping to reduce the stress, and also provide ongoing assistance to help ensure that your business stays on track.

For further advice on your individual situation, and to find out more about Time to Pay Arrangements and any alternative options that may be open to you, please contact our friendly and professional team.