Time to pay
arrangement advice

At Boardroom Punks, we take an innovative new approach to helping businesses. We aim to work on every financial solution possible before the insolvency practitioners are called in. If you are seeking advice to help you navigate your issues with HMRC, be assured that we have your interests in mind. SMEs are the backbone of our local economy, and we want to ensure that they are protected at all costs. Jobs, livelihoods, families, and futures are all interconnected with SMEs. The alternative approaches we offer are designed to protect both your business and lifestyle.

We have an elite team of financial experts that are serious about their trade. We have a variety of team members at Boardroom Punks with expertise in debt, VAT bills, business and project management, and government loans. Whatever advice you need regarding a TTP arrangement, ensure that you have the right experts in your corner. We know how stressful it is to talk with HMRC and negotiate an agreement that works for both parties. Whatever stage you may be at, the Boardroom Punks will do their very best to come to the best possible solutions for your company.

Not only do we have experience across the board, but our business model was founded upon our managing director David Morgan. In 2008 he received the news that his chain of opticians was trading insolvent. After battling with the liquidators and the loss of £250,000, Morgan dedicated his time to finding alternative solutions that would help with restructuring both his own business and the SMEs of the future. Today, Boardroom Punks is the solution that our director strived for, and we believe that we have the right tools in place to get any business back to a state where it can stand on its own two feet.

However, don’t just take the claims of expertise from ourselves. Our business experts have put their skills to the test in many different trading models. Beauty salons, haulage companies, decorators, and even jewellers have all needed the advice of Boardroom Punks. Whatever SME you are looking to salvage, know that our solutions have been tried and tested across many different businesses. Some of the cases we are currently working on include businesses in the fitness industry, window installation, and wine. We always encourage our future clients to reach out and speak to those who have worked with us, as they are the best proof of our success.

With the negotiation of a successful TTP, a debtor has an additional 12 months to pay off the outstanding debt. Within these arrears, any interest and penalties are included. Though a TTP is designed to be flexible for both the debtor and HMRC, there still needs to be a strong indication that the debt can be eventually paid. For instance, if an enterprise has been paying the debt off regularly but has run into a supply chain problem that has temporarily reduced the business’s productivity, then the HMRC may be open to discussing the TTP terms in finer detail. However, to secure a TTP, an enterprise must show a commitment to clear the debt.

The success rates with TTPs are incredibly high. Over 90% of TTPs are completed. In addition to this, they also allow businesses to continue trade. Before a TTP is agreed upon, HMRC requires some commitments from the business. An individual requiring a TTP must undergo an assessment to deduce if they can pay the debt off in the agreed-upon time. Some of the areas that will be assessed include overall income, how much existing debt there is, the state of an individual’s tax returns, and the existence of any other debt elsewhere. Many of the same questions will also be asked of businesses and enterprises.

HMRC ultimately want an individual or an enterprise to complete their TTP. They will ask an individual to usually pay around 50% of their disposable income toward the debt. This is because they want to create a sustainable line of payment. It is favourable for HMRC to keep a business solvent because it ensures employment opportunities, greater VAT evaluation, and transparency regarding business management. With this in mind, it is key to communicate clearly with HMRC.

The Boardroom Punks know how HMRC operate, but we will also know how daunting they can be for an individual or a business that has not dealt with them in this manner before. The pressure, letters, unexpected visits, and the looming possibility of a court case can be hard for anyone in business. With us, you have professionals who will guide you through the process. Your business will be kept safe from liquidation, and you can continue to concentrate on other matters whilst we deal with the specificities of negotiating a TTP.

With a free and confidential phone consultation, you can express any concerns surrounding debt you may have without any unnecessary pressure. If we believe that we can create an effective plan for your business, we will organise a meeting to analyse the problems in greater depth so that you can see how serious we are about saving the SME in question. Once the numbers are agreed upon, we will outline and execute the master plan that will allow your business to grow.

You are not alone during these difficult times, and the Boardroom Punks have your back.