Engage early with HMRC on tax debts

HMRC have released two policy papers giving guidance for taxpayers who are having trouble paying their tax on time: How HMRC treats customers who have a tax debt and How HMRC supports customers who have a tax debt,

The two publications highlight the importance of making early discussions with debt management when you are anticipating problems paying your tax. Many taxpayers who have deferred income tax self-assessment and VAT liabilities will face a critical period in the early stages of 2021 when these liabilities become due.

If you are concerned about tax debt the guidance can provide you with a helpful overview to HMRC’s approach, both in terms of the support on offer and the enforcement action that may take place when payment is not made.

Early contact is essential as it helps reinforce the fact that you are unable to make payment and in need of support rather than refusing to pay.  Please get in touch with your usual WV contact if you would like to discuss further.

If you would like further advice please contact us on action@wrightvigar.co.uk or call 0845 880 5678.