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HMRC Arrears?

Tuesday, September 8th, 2009

Her Majestey’s Revenue and Customs have in many ways become the nations bank. Any business that is struggling will probably have fallen into arrears with PAYE and National Insurance. Up until recently HMRC have taken a lenient approach and many businssses have been able to negotiate an arrangement to pay any arrears without too much difficulty. Is the tide about to change?

Once upon a time a reputable firm of accountants specialising in corporate recovery were best suited to negotiate with the HMRC on your behalf. Their expertise in this area ensured the best possible deal was struck with the HMRC in terms of paying back any arrears. A plan carefully monitored by the corporate recovery firm ensured the agreed plan would have the best possible chance of success.

However in the recent recession it appears that the government have been taking a lenient approach and many firms have been able to negotiate their own deal with HMRC. In many circumstances the deal that has been negotiated direct has been just as good as a corporate recovery firm would be able to do themselves. Therefore it is difficult to see how a corporate recovery firm could add any value to the proceedings.

However it appears that the HMRC are beginning to take a more hard line approach. It may be because so many of the arrangements are failing or  a more hard line approach is being demanded from the top. No one really knows.  The fact of the matter is that in the last month or so a more hard line approach is being taken. Once again a deal negotiated wvia a decent corporate recovery specialist with a proper formulated plan will ensure the best possible chance of survival and success.

 
 
 

XL Business Finance Ltd is a privately owned and independent business financing company with established links to many of the UK's leading finance houses. XL Business Finance provides a viable alternative to high street banks that lack the flexibility and imagination to provide a solution to most business users requirements. XL Business Finance can provide a full range of business financing solutions and we ensure a high level of customer service and pride ourselves on quick decisions. Our independent status will ensure any offer of funding and asset finance leasing is best suited to our customer’s needs.

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