Debtor's Guide to HMRC Time to Pay Arrangements

Are you considering a Time to Pay (TTP) arrangement because either you or your business is struggling with Her Majesty’s Revenue and Customs (HMRC) debts?

If you're still reading, you probably have an unresolved problem with HMRC or owe them money. You may have received a:

• Warning letter
• Statutory Demand
• Bankruptcy Petition
• Winding Up Petition.

Contact I&L today if you need:

• More time to rearrange your finances
• Free and confidential advice concerning tax problems.

Time to Pay is an informal agreement that provides debtors with an opportunity to demonstrate they take their HMRC debt seriously. To qualify, debtors (you) must agree to pay all of their current liabilities on time. Additionally, you must repay any historic debts over 6 to 12 months, depending on the agreement terms.

Individuals and Companies

The process is pretty much the same whether you're approaching HMRC as an individual or a company. Tell us about your issue and the outcome you'd like to achieve. We make representation on behalf of companies and individuals to HMRC, and try to give them good reason to entertain a Time to Pay arrangement. HMRC want liabilities to be paid within 6 months. With good reason, however, they will extend that period up to 12 months.