Companies and businesses facing financial difficulties often end up delaying payments to HMRC and using these funds to provide emergency cash flow needed for their businesses to survive. While HMRC will never agree to write off any payments which are outstanding they will agree in some circumstances to repayment arrangements over a period of time.
For business which are experiencing temporary difficulties an HMRC approved Time to Pay Arrangement can be an effective way of managing cash flow difficulties.
HMRC Time to Pay Arrangements are only intended to assist viable businesses. Arrangements are tailored to the ability of the customer to pay..