VAT/PAYE Arrears
We have assisted the management of many businesses to enter in to time to pay arrangements with HM Revenue & Customs. Consequently allowing them to focus their efforts on core business issues which all ensures the financial concerns can be addressed as quickly as possible.
The Process
A step-by-step guide
When we are asked to consider submitting a proposal document for the restructuring of VAT/PAYE arrears, our general process is as follows:
Step 1
An initial discussion is held with the directors of the business to establish the reasons for the current short-term trading difficulties. It is usual at this first meeting for the directors to outline the future prospects of the business and provide an indication of the current position with regard to PAYE/NI arrears.
Step 2
We obtain engagement from the company to act on their behalf in submitting a repayment proposal to the Crown.
Step 3
Turnaround Solutionsthen Contacts HM Revenue & Customs to advise of our involvement and to request time to prepare a report which will support the proposed arrears re-payment plan.
Step 4
A draft report is submitted to the company for approval/amendment prior to submission to the Crown.
Step 5
A decision is received from the Crown. Any agreement reached is strictly on the basis that the company is able to meet current tax liabilities as and when they fall due.