Come to An Arrangement With HMRC if You Can't Meet Payments Due

According to Hacker Young, Accountants, H.M. Revenue & Customs is still the number one creditor petitioning to wind-up companies in order to recover moneys owed to it - and that's despite the fact that there is a time-to-pay scheme in place.

There's a surprise! When I was still trudging down to the Companies Court to file Petitions years ago, the H.M. Customs & Excise representative was not the person you wanted to be behind in the queue.

It's possible to come to an arrangement with HMRC if you are worried about being able to meet payments owed to it.

And if that is the case then you should get in touch with Business Payment Support Service immediately to negotiate a realistic time-to-pay agreement whilst the scheme is still available - and before access to it becomes a lot tougher than it is at the moment which, alas, seems likely. Staff will review your circumstances and discuss temporary options tailored to your business needs - and you can call them Monday through Friday 8.00 a.m. to 8.00 p.m., and Saturday and Sunday 8.00 a.m. to 4.00 p.m. on 0845 302 1435.

Please don't rely on the understanding and goodwill of HMRC representatives if you are late with your payments. Understanding and goodwill are not in the manual.