As a quick reminder, a 'Time to Pay' Agreement is an agreed payment plan with HMRC to pay VAT debts (as well as other taxes).
An initial call to HMRC’s Payment Support Service on Tel 0845 302 1435 is required (before a demand for payment is received). They will ask initial questions regarding how much the debt is, how long you wish to pay this over etc. It is likely they will request some further documentary evidence to support any proposals put forward.
We have recently renegotiated some TTP agreements where uncontrollable factors have meant client's are unable to stick with the original agreement. Be warned though that HMRC's patience will run out if this occurs regularly and they will resort to legal action!
Recent press has suggested that HMRC are getting tougher on agreeing TTP agreements - we would be interested to know what everyone is experiencing out there.......
Friday, August 6, 2010
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