1 Do not ignore it – you need to act now, ignoring or putting off dealing with it will only make the matter worse.
2 Take an honest view of your current and future financial situation. Could you pay the debt off over a period of time? Or is it unlikely it can ever be paid off in full?
3 Take professional advice immediately on your options from an insolvency specialist, they can talk you through all your options to identify the best route for you.
4 Decide on the best course of action, if you can pay the debt off over time you can either contact HMRC directly to arrange a pay plan or ask your insolvency specialist to negotiate on your behalf. Make sure you can keep to any offer you make, be honest about what you can afford.
5 If you are unable to pay the debt your insolvency specialist will be able to confirm if you are insolvent, and will discuss with you alternate options which may include liquidation, an IVA or bankruptcy.
6 Remember many others have been in a similar situation before and the sooner you act the greater number of options you will have available to yourself.

Walsh Taylor have supported many individuals and companies with HMRC debt issues; VAT, PAYE, CIS, Income or Corporation tax arrears. For a free consultation and to discuss your options now call 03300 244 660 or email confidential@www.walshtaylor.co.uk

Take advice now, a phone call with one of our experts will help to provide you with a clear view of your options.

Mary Taylor
Director

Mary began working in insolvency for a national accountancy practice in Glasgow thirty years ago and worked in most divisions of the insolvency department.

She then moved to a smaller firm so she could advance her knowledge on a more hands on basis. She moved back to Leeds in 1987 and commenced working with a small firm of accountants and subsequently made partner.

She left in 1999 to set up her own practice, McCann Taylor.
McCann Taylor became involved with the consumer market both in England and Scotland.

Mary sold McCann Taylor in March 2007 and formed Walsh Taylor to concentrate on helping businesses experiencing financial difficulties.

Walsh Taylor Finding workable solutions for your financial problems
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