HMRC time to pay arrangement ("TTP")
If your business has arrears of taxes with HMRC it is important you deal with the situation promptly. HMRC has additional recovery powers to other creditors and if you ignore the situation, business and personal assets could be seized. If you receive a threatening letter or a visit from HMRC act immediately.
In certain circumstances, HMRC will agree to give you time to pay outstanding arrears, known as a TTP. HMRC review all applications for TTPs on a case by case basis but there are a few things to bear in mind:
A TTP can be agreed without professional help. However, a free initial consultation with Brailey Hicks often helps to consider all the options before embarking on a TTP. It is important that any TTP with HMRC is realistic and does not default. It is often beneficial to discuss your circumstances and forecasts before submitting an offer.
How can we help?
13 Reynolds Park
Call. 01752 914410