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Completed Iva & hmrc
Sprockets2
Posts: 1 Newbie
in IVA & DRO
I completed my Iva a few weeks ago and being self employed I have submitted my tax returns each year as required. I have today received a message from HMRC with 4 fines attached for late payment of taxes and it states to pay all the tax owed over the period of the Iva. Has anyone else experienced anything like this? Not sure what to do next really. Any advice would be greatly appreciated
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Comments
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My understanding is that although the IVA covers HMRC debts up to the point the IVA started you still need to pay any tax due by your business during the IVA and the amounts you were paying should have taken that into account.0
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@Keep_pedalling is correct, the debtor is responsible not only for submitting self assessment tax returns but also paying the tax by the due date during an IVA.
If the tax isn't paid on time penalties may be charged.
If the returns were submitted on time each year why wasn't the tax paid?
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