i have an outstanding tax bill for £5717.93. phoned HMRC today and offered £50 per month as i,m on a low income[just over £900 profit last tax year]they refused to accept, told them my only other option would be to file for bankruptcy. is this my only option they said HMRC would refuse if i asked for voluntary payments
Hmrc are having the pressure put on them from above to collect money.
Is this company , partnership or private debt ?
HMRC will only allow an individual 1 go at a payment plan, if you breach that or ask for a second time the answer is almost def No
what other debts, overdrafts and credit do you have ?
if this is your only creditor and you are rented accom and have a low value car DRO may be the an option.
if you have many other creditors than (then) BR may be best option.
The quickest it will take HMRC to get everything in order to make you BR is about 6 months, this gives you a chance to rebuild the business and as the time goes along they may accept a full payment
Do not file for bankruptcy just because HMRC are shouting at you, if they are that eager to make you BR then let them pay for the privelage
Outstanding tax bill for £5717.93. HMRC refused my offer. Is my only option bankruptcy ?
Posted - 22 March 2013 : 20:43:03
