tax debt

Tax debt problems

The uk recession and the reverberations the uk recession has had on businesses in the uk has caused some companies problems with tax debt to the hrmc.

Her Majesty's Revenue and Customs (HM RC) has been pretty ruthless in recovering tax arrears from companies that have struggled in the uk recession. The government is behind almost half of all court petitions seeking to push companies into failure, despite repeated calls from ministers for other creditor groups, such as banks, to do everything they can to help struggling businesses keep trading.

If you have a company that is going to owe money to the HM RC make arrangements before your returns are due, give them advance warning of probable payment arrears.