Limited Company - HMRC debts

[Welshman1971]

Hello all. I've found myself in a position where I'm trying to pay off the debts that I owe to HMRC, but because time off work with illness and paying for everything else I can't catch up. Its getting to the point now I have work again, on considerably less money than before, that I find myself working for virtually nothing. I'm struggling to be honest and have just had another bill off HMRC. I wont be able to make an agreement with them for the amount I owe because back then I was on a good salary. I don't really know what to do as the company has just finished another financial year and that will be due next year also. Any advice would be greatly appreciated.

 

[Scalloway]

Are you trading through a limited company?

 

[Welshman1971]

Yes I'm trading as a limited company.

 

[Scalloway]

If you are struggling then it is best to knock it on the head. Have you read the sticky at the start of this forum?

 

[Welshman1971]

I have read some posts. which thread is it please?

 

[Scalloway]

This thread

http://www.ukbusinessforums.co.uk/t...ich-to-pay-an-insolvency-practitioner.316523/

 

[Welshman1971]

Much appreciated. thanks.

 

[Welshman1971]

I've just read the post. I assume my creditors are tax and vat? Is there a department I should send it to? Is it best to involve my accountant as it seems HMRC sends them the demands? Sorry for all the questions but as I said before I'm struggling and just want to sort it out.

 

[Scalloway]

Your creditors are anyone the company owes money to which will include HMRC. I would write to the department that you receive communications from.

If you need more detailed advice you are best to speak to an insolvency practitioner (IP). Many of them will offer a half hour free consultation/

 

[Lisa Thomas]

As Scalloway says best to have a free meeting with a local IP to get advice based on the whole position.