HMRC Taking a Tougher Line on Debt Recovery #036

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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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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 […]

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