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Who can you turn to when weighed down with HMRC debt?

Date Added: 05/01/2016  

When you’re facing HMRC debt, this can be an extremely stressful time. Usually the debt is a result of other problems in your business and it’s a challenge to prioritise everything you’re up against and take action.

HMRC debt management and banking

Often business owners will turn to their accountant, their solicitor or even their bank manager when facing HMRC debt, to attempt to figure out the best route forward. Unfortunately, none of these professionals will be able to give you specific, expert advice that is tailored to your situation, and they aren’t used to working with HMRC to reach the best solution for you and your business.
What does a business recovery service do?
A business recovery service will help you to take all of the emotion and stress out of the situation and look clearly at your options. The paths you can take are summed up in our HMRC Debt Guide. We are dealing with HMRC on a regular basis and we know what can and can’t be achieved, and how best to negotiate with the tax office. The value of this is difficult to measure, but it means you can often reach a solution that your accountant or solicitor would not have been able to put in place for you.
Too worried to talk to HMRC?

Many of our clients have put off dealing with their HMRC debt, whether it’s PAYE, VAT or Corporation Tax, and the debt will often be more than six to twelve months old. This leaves them understandably concerned and worried about talking to HMRC. However, this is the first step to facing up to and dealing with the management of your debt. A business recovery service can take this worry off your hands and call HMRC on your behalf. They may also be able to negotiate Time to Pay Arrangements and also stop 99% of HMRC debt chasing, so that some of the stress is taken away and you have space to think clearly.
HMRC debt and insolvency

It may be that your business cannot be saved and you will need the services of an Insolvency Practitioner. However, it is ALWAYS a good idea to speak to a business recovery service such as 4R first, as we have vast experience of navigating this process for our clients so the best possible outcome is reached. We have also been in your position and understand the immense stress involved on a deep level.
If you’re ready to take action and talk through the options with one of our HMRC Debt specialists, please call us on 0800 90 20 123 or get in touch via our contact form.

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