I am Sam and I am one of the other UK tax experts here on Just Answer, and I have a different point of view.
HMRC will see that you are doing all you can to help clear this matter but may I ask
1) How much you owe in total at todays date and
2) Have you entered into any payment plan with the remaining debt
3) Are you still trading
4) How much you do you think you could afford to pay back each month
5) How much equity do you feel this property will release
6)Is this your home you plan to sell?