Owed taxes
Jawz
Registered Posts: 53 Regular contributor ⭐
A potential client is in a bit of bother with HMRC. He currently runs a Takeaway/Restaurant business but has been lacking behind on all his taxes. He currently owes around £25K to HMRC. He recently received a winding up warning from HMRC who are the only creditors. My guess is its probably too late for me to help him plus he doesn't have the cash flow to pay this debt either. What is your advice on this case? Any suggestion/ideas would be highly welcome, many thanks
Ali
Ali
0
Comments
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Ali,
It depends if he can realistically trade out of it. Getting an MP involved can often help. We had a client who received a winding up order but was perfectly solvent. Due to some mess they hadn't paid VAT for a while. HMRC would not listen that winding up would leave them with nothing. With the help of an MP they listened and understood that if they were prepared to wait they would get the money.Regards,
Burg1 -
Ian,
Many thanks as always! Sounds like a good idea to get an MP involved. And with regards to HMRC not listening, I totally agree. You would like to think that winding up a business should be the last resort for them but it doesn't seems that way in this case.0 -
Try asking HMRC to help by setting up a payment plan1
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