Tax arrears? We can help you negotiate an HMRC Time To Pay arrangement

A Time To Pay Arrangement will be most suited to:

  • Viable businesses which have a healthy future ahead
  • Businesses who are simply experiencing a short term cashflow issue

In 2009, Time to Pay (TTP) agreements were introduced by the Government in response to the economic climate and financial crisis. Since the introduction, the Government has agreed to over £5.1bn of tax deferral requests from over 300,000 businesses. However, we know from experience that navigating the maze of dealing with HMRC can be tricky and in many cases, requests are turned down, leaving business owners in a weak financial position.

Initially, it was reasonably straightforward to ask for a deferred payment, however, times have changed and the process is considerably more complex. If you are considering approaching HMRC with a tax deferral request, the team at Leading Corporate Recovery are able to immediately assess your position and provide expert advice to ensure you achieve your objective.

Each request is assessed by HMRC on a case by case basis but it is important to note that any TTP proposal that requires a payment term of over 12 months is very unlikely to be approved. In fact, in most cases, a TTP arrangement will be set for a period of between 3 and 6 months in total. It is also important to be aware that a TTP arrangement will not decrease your overall tax bill, it simply allows you to pay a more affordable amount in instalments.

TTP is not designed for companies who have the money available to pay their tax bill but would prefer to use this for another purpose, for example, expansion.

In order to ensure that your request is granted, our expert team will work with you to create a proposal that:

  • Is reasonable. It is important that you are realistic about what you can afford to pay and over what period of time.
  • Clearly identifies why you are unable to meet the tax due date
  • Indicates the future viability of your business and that you are simply experiencing a short term cash flow issue

In cases where HMRC do not agree to a TTP arrangement, there are still options available to you that will help ease your cashflow and still ensure you can meet your financial obligations to HMRC. One of the options that our experienced team will explore with you is a Company Voluntary Arrangement (CVA) which you can read about more here:

Company Voluntary Arrangement CVA

If you are struggling to pay your tax, PAYE or Corporation tax bill, we can advise as to whether a TTP arrangement is the most suitable option for you.

For your free, no obligation consultation, contact our team of experts today on 0800 246 1845.

Why use Leading Corporate Recovery?

Our team are always on hand to guide you every step of the way

We understand that you may need advice quickly. That’s why our team of experts are available by email or telephone outside of standard office hours in order to provide an efficient service without compromising quality. Additionally, we know that keeping your business running is always a priority which is why we are happy to meet with you out of hours in the evening or at weekends.

Our team are empathetic and non-judgemental

We know that it can be difficult to discuss the challenges your business has faced and that coming to terms with your current financial position can be daunting. That is why our team of experts will take the time to listen without judgement in order to help you find the best way forward for your business. Our team are empathetic, discrete and will always ensure you are fully aware of all of the options available to you.

We offer flexible payment plans

We appreciate that many of our corporate clients are already strapped for cash. That’s why we always provide a free, no obligation consultation to discuss your options and if you would like us to act for you, we are always prepared to agree a flexible payment plan.