CT query

[Newbie22]

I have a corporate tax liability of 27k, which is due shortly... my accounting end is 31st Dec 2009. What do I do if I can only pay say 50% of my corporate tax liability at the due date? which is soon, as its 9 months after my year end.

Thanks

 

[jim_price]

You should contact HMRC's Business Payment Support Service http://www.hmrc.gov.uk/payinghmrc/problems/bpps.htm but be aware that they are rejecting far more requests for payment plans now. They will want to know where the £125k or so profit that you apparently made in 2009 has gone, so you will need to be able to point to some unforseen trading difficulties. If you are looking at making a loss for 2010 that will probably help your case.