HMRC-Time to Pay

From the 1st January 2011 HMRC are no longer accepting ttp (time to Play) Plans.

If you have a business in which you owe HMRC Vat Or Tax debts, then you have to deal with the issue as quick as you can.

Last year you could do a time to pay deal with HMRC, in other words if you could not pay your debts to HMRC in one lump sum, you could enter into an agreement to pay in installments.

This is no longer the case.

If you do not deal with the issue then HMRC will send in a Revenue Bailff and distrain on your goods/assets.

If no goods/assets can be removed from the business then HMRC will issue a bankruptcy petition or in a winding up petition if you trade as a limited company.

YOU MUST ACT FAST.