Many businesses are struggling in the economic climate to meet their tax obligations and have required help from HMRC to help them through short term difficulties. In 2008 help was offered in the form of the Business Payment Support Team which initially offered generous help and assistance, this had however been withdrawn, with figures showing that in the last 3 months of 2010 the number of businesses who were refused time to pay had doubled.

Now businesses who have had previous time-to-pay arrangements are far more likely to be refused help and threatened with legal action, including distraint (removal and sale of goods), County Court Judgements which can seriously affect a business’s credit rating and relationship with existing lenders, and ultimately Winding Up proceedings.

Regardless of how difficult or intractable a problem seems, we will help in a constructive and non-judgemental manner in order to relieve the pressure on you and your business. The most important asset you have when negotiating with HMRC is credibility – we will ensure that your proposals are reasonable, credible, and affordable.

At WMT Chartered Accountants we have extensive expertise in helping in these difficult situations, negotiating and dealing with HMRC allowing you to continue to run your business. It’s always better to try and negotiate with HMRC before a debt becomes overdue, but we can help even if this is not the case, regardless of whether your case is being handled by a local Debt Management Office, specialist collection offices, or the Enforcement Office.

Where large sums (typically in excess of £100,000) are involved HMRC will often insist on a full financial report and business plan and we can assist in the preparation of this and presenting your proposal in the best possible light to HMRC. We can help in all types of tax debt including PAYE and National Insurance, VAT, Corporation Tax, personal Income Tax, and Construction Industry Scheme deductions.

To discuss any of this information further, please contact our Senior Employment Tax Manager, Peter Davies, on 01727 838 255.