How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask taxadvisor.uk Your Own Question
taxadvisor.uk
taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4996
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
54961312
Type Your Tax Question Here...
taxadvisor.uk is online now

Basically I am looking to request more time to pay

Resolved Question:

Hi
So basically I am looking to request more time to pay corporation tax with HMRC and was looking for advice on how to prepare a letter to reuest extra time accordingly. Please could you let me know
Tks
Submitted: 1 year ago.
Category: Tax
Expert:  taxadvisor.uk replied 1 year ago.

Hello and welcome to JustAnswer. I am here to help you. I will review your question and will respond to you shortly.

Expert:  taxadvisor.uk replied 1 year ago.

Please advise how much you owe to HMRC and the period it relates to.

What sort of extra time you propose to seek.

Many thanks

Customer: replied 1 year ago.
The previous accountant went to jail for fiddling ect so I initially wrote to HMRC and was upfront about everything. I employed an accountant to redo the accountants as needed and these were submitted and accepted by hmrc. I was given a bill then for £18058.00 includes a penalty. I am working with HMRC directly on this just need help on how I can request more time to pay it off. Tku
Customer: replied 1 year ago.
Extra time upto 3 years or 2 years would be perfect
Customer: replied 1 year ago.
Your thoughts?
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your reply.

If you have not been in default with your tax payable in the past and produce a creditable payments plan to HMRC with assurances to clear your debt in full, in my opinion a payment period of no more than 24 months would be workable.

You should be able to demonstrate you are serious in your plan to discharge the liability. What is likely to go in your favour is a reasonable down payment of say up to £5,000

I hope this is helpful and answers your question.

Please only rate my answer if it is acceptable

Customer: replied 1 year ago.
Thank you. Any tips on writing to them - what to include, say etc
Tks
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your reply..

Mike, it is simple and to the point. Give a brief rationale for your approach and keep it business like. State facts.

I hope this is helpful..

Customer: replied 1 year ago.
excellent.Tku
Expert:  taxadvisor.uk replied 1 year ago.

Thank you for your good words.

I will appreciate if you would rate the service/accept the answer before you leave the site.

Many thanks

taxadvisor.uk and other Tax Specialists are ready to help you
Expert:  taxadvisor.uk replied 1 year ago.

I thank you for accepting my answer.

Best wishes.