- Any company or sole trader who is already in arrears – or expects to default in the near future on their corporation tax, VAT and/or PAYE – can ask HMRC for a Time To Pay arrangement
- HMRC must be satisfied that you will be able pay back the outstanding amount in full over the time period
- Corporation tax owing from the previous year can also be proposed for a Time To Pay arrangement.
- You will need to provide financial forecasts, examples of how you can manage or reduce costs within the business, and a convincing argument, showing your determination to meet your tax liabilities.
- If you can prove that your business has been adversely impacted by the coronavirus, HMRC may also take a more lenient view on helping you to pay your taxes.
How can we help?
Touch Financial is an award winning Financial Brokerage and part of the SFP Group.
We work with the leading high street Banks and alternative finance providers, covering Loans, Invoice Finance, Asset Finance and even have a national panel of approved chartered accountants to recommend, should the need arise.
Our business finance experts will:
- Carry out a free eligibility check on you & your company.
- Help you get your application together to meet lender requirements. (Working with your accountant if necessary)
- Recommend lenders based upon your specific needs.
- Source multiple offers from our panel of lenders.
- Stay with you through the journey to offer advice and recommendations.
- Help you plan ahead for any upcoming projects or events.
“Their communication and support throughout the whole process was outstanding, I would recommend their services should a business find itself in difficulty.”
Five Times Winner
Best Business Recovery Specialist
“I found working with the team at SFP easy and professional. They told me what was going to happen, when and how it would be managed; then they did their job.”
“Excellent Service. Introduced our company to other companies that has helped move our business forward.”
Six Times Winner
Best Asset Based Finance Broker