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Tax Debt Help!

bargaingaz
Posts: 63 Forumite

in Cutting tax
My friend owes the tax man around £11,000 from his old business, he doesn't have any where near that money, they have been ringing him up recently for the full payment and today he got a letter stating payment should be made by the 31st jan and if he cannot pay recovery proceedings will take place
is there anyone in a similar situation or could give any advise this would help him out a lot and has anyone got their debt halved in any situation
thanks for any replies :rolleyes:
is there anyone in a similar situation or could give any advise this would help him out a lot and has anyone got their debt halved in any situation
thanks for any replies :rolleyes:
0
Comments
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Most major towns have a HMRC Tax Enquiry Centre
I STRONGLY suggest he goes in and talks to them - BEFORE deadlines force their hand and dictate the action they must take.
HMRC are very helpful and will listen to reasoned arguments - NEGOTIATE with them it does not cost anything and who knows may resolve the situation,
Otherwise get a good accountant to act on his behalf but DO NOT JUST WAIT AND SEE that will cost even more - especiially once the lawyers and debt collectors get involved.
GoGK eep
I t
S imple
S tupid!!0 -
grumpyoldgit gives good advice. If your friend is struggling to pay the £11,000 then it will only be worse once court fees interest and penalties are added. The HMRC will send bailiffs and they will take goods to pay off the debt. Avoid this ...get your friend to go to the office and ask for time to pay. If an agreement is made and the agreed payments are paid on time then there is usually scope to spread the payments. Your friend will not have half of £11,000 written off in any situation, except (possibly) bancruptcy.I have had brain surgery - sorry if I am a little confused sometimes0
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