If you have accrued debts with HMRC and have fallen behind with payments then a Time to Pay Arrangement, also known as T2P Arrangement, may be the solution to save your business.
A Time to Pay Arrangement can help deal with HMRC debt in a controlled way to allow your cash flow to be maintained. We have years of experience dealing with HMRC in these situations and can help you to agree manageable payment terms. You can call us on 0330 159 8080 to learn more about how.
Usually lasting for between 6 -12 months, a Time 2 Pay Arrangement is a formal agreement between your company and HMRC where an existing debt can be spread over more affordable instalments. In some circumstances a longer period can be negotiated.
If you have arrears of payments to HMRC it is important that you act fast to negotiate a settlement as HMRC will normally instigate legal proceedings to recover the debt.
We are experienced in talking to HMRC in circumstances where arrears have built up and this can demonstrate a willingness on your behalf to deal with the debt which will reduce the likelihood that HMRC will take action against you.
We will work with you to provide a fast and accurate financial review of your business and establish a realistically affordable monthly repayment. With your agreement we will then present this to HMRC and negotiate with them to achieve a repayment plan.
The advantages of a Time to Pay Arrangement are:
Professional advisors acting on your behalf
Our review provides credibility to your proposal
Affordable monthly repayments which help future cash flow
Demonstrates a willingness to co-operate with HMRC
Can therefore avoid legal action to recover the debt
Can be used to rescue the business if legal action has already started
To find out more about whether a Time to Pay arrangement can help your business survive call our advisors on 0330 159 8080