Published on 25 February 2011 by Tony Groom Evidence is emerging that HM Revenue and Customs is adopting a tougher approach to PAYE, VAT and tax arrears and increasingly using its powers of distraint to take over control of the goods, stock and assets of businesses. In one example this week, just two hours after […]
Articles Tagged: HM Revenue & Customs
HMRC Insolvency and Enforcement Workload #054
Published on 23 June 2011 by Tony Groom The HM Revenue and Customs (HMRC) insolvency and enforcement department in Worthing appears to have an increasing workload. There are several reasons for this. Businesses are continuing to withhold payment of PAYE and VAT liabilities, hanging on to the cash and using it to prop up their […]
HM Revenue and Customs is Increasingly Rejecting CVA Proposals #032
Published on 28 January 2011 by Tony Groom It is not being much talked about in the marketplace but it is becoming increasingly common for HM Revenue and Customs (HMRC) to reject Company Voluntary Arrangements (CVA) that would previously have been accepted. For a business in difficulties a CVA can be used to improve cash […]
A Winding Up Petition Due to HMRC Arrears Need Not be the End #001
Published on 12 October 2010 by Tony Groom In early 2010 HMRC (Her Majesty’s Revenue & Customs) served notice for a winding up petition against a small trading company. The company had ignored HMRC for three years and had not submitted accounts for three years, not since 2007. A director attended the winding up hearing […]
The Questions HM Revenue and Customs Asks to Assess a request for Time to Pay Arrears #026
Published on 7 January 2011 by Tony Groom Recently uploaded guidelines for HM Revenue and Customs case officers dealing with requests from businesses in difficulty for Time to Pay for overdue VAT, PAYE and tax, reveal the detail of what questions will be asked before the request for a Time to Pay arrangement (TTP) can […]
Managing Tax Payments With Time To Pay Arrangements #004
Published on 22 October 2010 by Tony Groom There are hundreds of thousands of businesses struggling to meet their financial obligations to the Exchequer. Businesses, especially smaller enterprises, have been reporting that in the current difficult economic climate they are struggling with cash flow issues as customers and suppliers try to stretch out the time […]
HMRC’s Assessment Criteria for a Time to Pay Arrangement for Revenue Arrears #025
Published on 7 January 2011 by Tony Groom As businesses face continued tough trading conditions in 2011 a new series of guidelines has appeared on the HM Customs and Revenue (HMRC) website on the arrangements for paying arrears of tax, VAT and PAYE, known as Time to Pay (TTP). Although the guidelines are aimed at […]
Dealing With VAT Arrears and PAYE Arrears #002
Published on 15 October 2010 by Tony Groom Owing Her Majesty’s Revenue & Customs (HMRC) more than £150,000 for overdue VAT and PAYE when your turnover is less than £3 million is not uncommon in 2010. A second, more extreme example of HMRC arrears was a labour services company that owed more than £100,000 having […]
A Winding Up Petition Due to HMRC Arrears Need Not be the End
In early 2010 HMRC (Her Majesty’s Revenue & Customs) served notice for a winding up petition against a small trading company. The company had ignored HMRC for three years and had not submitted accounts for three years, not since 2007. A director attended the winding up hearing in court unrepresented. He said he was trying […]