HMRC Debt Management

HMRC Debt Management

If you would like help when it comes to HMRC debt management, make sure to speak to our team now. We are able to help you throughout the management process and get you back on your feet.

HMRC Debt Collectors

HMRC Debt Collectors

If you are worried about HMRC debt collectors and would like an expert to help you, please complete the contact form provided and we will get back to you right away.

Business and HMRC Tax Debt

Business and HMRC Tax Debt

If you wish to learn more about Business and HMRC tax debt, please complete the contact form now and one of our experts will get back to you.

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HMRC Debt Management - 0808 164 2327

Our team (https://www.businessdebts.org.uk/) can help when it comes to HMRC Debt Management so please do not worry if you have HMRC debts.

There are multiple ways in which an individual or a business can run up debts that they are unable to pay. If you owe money to HM Revenue & Customs then this is classed as a priority debts, basically a debt that has serious consequences if you fail to address the situation.

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There are three departments covered by Her Majesty’s Revenue and Customs that you can fall into serious arrears with;

  1. PAYE income tax
  2. National Insurance
  3. VAT arrears

All three of these MUST be dealt with as soon as possible because the alternative can be very serious indeed. HM Rev & Customs have the power to send bailiffs to your place of business to recover their debts, and they can even apply to make you bankrupt too.

If you are in trouble with any of the departments and you need a plan for the HMRC debt management - what do you need to do? What powers do they have? Is there a way to stop them taking money off you? The answers to all of these questions and more can be found in this debt-management guide. 

HMRC Debt Collectors

While it’s true that HMRC has debt collectors that they can despatch to recover the debts that are owed to them, they are only one tool at their disposal. In this circumstance, HM Rev & Customs debt management will contact one of ten private collection companies that they use to enforce the debt and it will be up to you to contact them to work the situation out. These are;

  1. 1st Locate (LCS)
  2. Advantis Credit Ltd
  3. Bluestone Credit Management Ltd
  4. CCs Collect
  5. Drydensfairfax Solicitors
  6. Fredrickson International Ltd
  7. Moorcroft
  8. PDCS
  9. Rossendales Ltd
  10. Walker Love

Any of these agencies might be employed to contact you and retrieve the debt that you owe to HM Rev & Customs. An officer will visit the property and demand payment.

If you do not comply, they are instructed to make a list of your possessions that could potentially be sold in order to pay for your debts and to pay for the administration costs too. If you fail to pay your bill within 7 days of this visit then these items will be sold off. 

You've heard about WUP (https://www.businessdebts.org.uk/winding-up/) and other options, but let's see what our team think. Fill in the contact form now to find out more.

Can HMRC take my House?

With the knowledge that they have the power to send bailiffs to your home and sell your belongings, you might be wondering if they can go one step further; Can HMRC take my house?

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The short answer to this one is NO. In a lot of circumstances, homes are dual owned by spouses and HM Rev & Customs don’t have the power to use someone else’s assets pay for your debts. It is extremely unusual for HMRC to go down the route of taking your home from you, but there is another indirect way in which they could act that could still mean the loss of your home.

They could put a charge against the property which secures the debts that you owe against it. Should you be unable to meet your payments once this is in place, HMRC can apply to the courts to force you to sell the property in order to pay them back.

HMRC Debt Collection Process

The HMRC debt collection process is not something to be taken lightly. They have a variety of options to retrieve what is owed to them and they have a reputation for being somewhat unmerciful.

In their eyes, by not making your contributions you are taking money out of the pot that keeps the country running. Here are just a few examples of what HM Rvenue and Customs have within their power to do;

  • Take money directly out of your earnings or pension each month until the debt is satisfied
  • Employ a local debt-collecting agency to recover the amount owed
  • Employ nearby bailiffs to remove and sell possessions to pay back the debts
  • Take money directly from your savings or building society accounts
  • They can take you to Court
  • If you owe at least £5,000 they can start bankruptcy proceedings against you
  • They even have the power to shut down your business.

Business and HMRC Tax Debt

If you do not take steps to take control of your debtS then they will take it upon themselves to start ‘enforcement action.’ Your business and HMRC tax debt is not something that you should ignore and hope it will go away because it won’t.

The best thing to do is to take the advice of an HMRC debt management specialist such as ourselves, who can advise you on what courses of action are available to you.

This can range from taking out an IVA to debt-consolidation loan to speaking to HMRC and agreeing a ‘Time to Pay’ arrangement with them.

These solutions would allow you to pay your debts back over a longer period of time and give you some breathing space. However, every situation is different so we encourage you to speak to us if you have any concerns.

HMRC Tax

You must contact the HMRC tax department as soon as possible to advise them if you are having problems. By putting them in the picture you not only buy yourself a little bit more time but it is seen that you are actively trying to rectify the situation.

The closest thing to an immediate resolution would be to just pay off what you owe in one go and be done with it. If that isn’t an option then you need to find an alternate way of satisfying HM Revenue and Customs before things get ugly. That’s where we come in...

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We can help decide if administration is the best way for you to go (https://www.businessdebts.org.uk/administration-cva/) or it's something completely different, so please don't hesitate to get in touch.

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If you have searched your surrounding areas for a solution to your money problems, or have Googled ‘Plans for HMRC debt management near me’ and have drawn a blank, then look no further. We have the knowledge and expertise to make those HMRC debts a thing of the past.

Together we can find a solution that satisfies the tax man but doesn’t leave you struggling each month as a result. Businessdebts.org.uk have the answer to all your problems.