HMRC Negotiations
Your questions answered
Don’t know where to start with negotiations surrounding tax?
80%
Over 80% Of Debt Wiped
Out On Average
100+
Companies Helped
£££
£Millions In Debt
Written Off
HMRC Negotiations FAQ
The HMRC are responsible for collecting tax, whether from earnings, VAT, or the various form of corporation tax. In business, the unexpected can happen, and you may fall behind with your taxation payments. A change in a bookkeeper, an absence of a customer or a supplier, or even an increase in profit can lead to problems with the HMRC. Once they do not receive tax, it is their job to apply pressure on a business.
We understand how difficult it can be to deal with HMRC. The Boardroom Punks are all about transparency, and below, we have included answers to some of the most common questions you may get from HMRC. If you require specific help regarding negotiation or support to pay off your debts to HMRC, then book a free and confidential call today. We have helped some of our previous clients wipe off 80% of their debt, and there is no reason why we cannot do the same for you.
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HMRC Negotiation FAQ - The Punk way
Why is HMRC so persistent in receiving taxation from businesses?
The taxation that HMRC primarily goes toward the public domain. The upkeep of transport services, health services, and the condition of the UK’s infrastructure are reliant upon tax collection. Corporation tax, or tax collected from businesses, plays a fundamental role in the running of society.
How will HMRC contact me regarding payment?
If the debt is relatively new, then it is likely that you will receive a letter of intent or a warning regarding the outstanding arrears. It is only when there is a lack of communication that HMRC begin to apply pressure. If the debt continues to grow and there is no sign of an attempt to pay debt, then an enterprise may receive an unexpected visit from an HMRC employee. If this is ignored, then communication will continue through a county court. It is always best to communicate with HMRC and keep receipts of the exchanges of messages. That way, when the Boardroom Punks step in to help with negotiations, they have a backlog of evidence to refer to. Better communication will also lead to better results in paying off debt.
Right now, I cannot afford to pay off any of my bills. Shall I just ignore them until I can?
As expressed in other questions, the best policy in approaching HMRC is to keep in constant contact. We understand that the pressure they apply can be stressful, but this is a problem that you do not want to avoid. Ensure that you attempt to contact HMRC, even if you cannot pay the bills at this moment. If you plan to seek our help, inform HMRC that this is the case. This means that they have an existing record of intent when we contact them, increasing the likelihood of positive negotiations. A good communication stream may help you find more time to pay off arrears. Nobody likes to be left in the cold, and the Boardroom Punks understand the needs of HMRC. We are happy to communicate with them even when it is at the most stressful points of business.
What can the HMRC do to my business if I fail to pay off the outstanding arrears?
Because the HMRC is a non-ministerial department of the government, it can exercise power that creditors cannot. If there is no attempt to pay off debt, then HMRC can seize assets and property to recover the arrears. They can also revoke the licences of a director depending on the area of trade. HMRC may also take a director to court, meaning they must pay for the debt and the cost of the court proceedings. The results of these proceedings may lead to a declaration of bankruptcy if the director has no means to pay off the outstanding debt.
What will negotiations with HMRC achieve?
Negotiations with HMRC may buy you more time to pay off the outstanding debt. The Boardroom Punks are experts at negotiating a Time to Pay arrangement (TTP). This will give a debtor 12 more months to pay off a debt, and it will allow them to do so at a rate that is more reasonable to a company. Negotiations can also help reduce the degree of pressure HMRC and creditors apply. Once we become involved, we will act as a confidential point of contact, meaning you can continue to run your business whilst we handle the nitty-gritty details.
What If I choose to reject the negotiation options offered by the Boardroom Punks?
If you decide to go your own way after we have outlined the master plan, this is entirely your decision. It may be a cheaper option in the short term, but if you cannot negotiate successfully with HMRC, it will be detrimental to your business and livelihood in the long run. Because HMRC can exercise legal options to recover debt, it is essential to have experts in your corner who know how to deal with these situations. It is in your self-interest to have us at the negotiating table, otherwise, you may face the liquidation of your business, the loss of any trading licences, and even bankruptcy. We want to save your business, so ensure that you the best decision for you.
I owe too much debt to HMRC. What can negotiations achieve at this point?
We understand how difficult it can be to navigate new forms of corporation tax and the brackets under which your business will fall into. If you have no business or accountancy experience, you may struggle to manage this on your own. We are only a call away, and we are more than happy to help you steer through it. Ensuring you make the correct steps at the start of the business will help with HMRC negotiations and avoiding debt in the long run.
I am new to business, and I do not know how to deal with HMRC. How do I get help?
Sometimes the amount of pressure that HMRC applies does not necessarily correlate with the amount of debt. Though it may seem like you are needing to pay the debt immediately, it is likely you still have time. Negotiations can still help your company avoid insolvency and liquidation. Once there are negotiators like ourselves present at the table, this will communicate to HMRC that there is clear intent to recover the debts. Even if you have received unexpected visits from HMRC at the site of your enterprise, we can still get your business back on track.
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