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 Sam Your Own Question
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13862
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
16196420
Type Your Tax Question Here...
Sam is online now

I owe a fairly large amount (60k) to HMRC in self

Resolved Question:

I owe a fairly large amount (60k) to HMRC in self assessment, corporation and VAT partially due to my accountant not putting in my self assessment for 2 years. Would HMRC permit me to consolidate these and pay them back in instalments?
Submitted: 9 months ago.
Category: Tax
Expert:  Sam replied 9 months ago.

Hi

Thanks for your question - I am Sam and I am one of the UK tax experts here on Just Answer.

I am afraid not as each is its own stream if tax and runs on its own system within HMRC - so although the HMRC task forces can investigate tax across the regimes, they still remin under their own tax streams.

All I can suggest is that you contact the collection side of matters (debt collection team) and make three proposals - trying to make a lump sum payment on each (as a gesture of goodwill) and then affordable payment terms on each , and make sure you stick to those terms - if you cannot afford a payment one month then contact them in advance of the payment due - or they will sever any arrangement and pursue for the whole debt

Let me know if I can assist further

Thanks

Sam

Customer: replied 9 months ago.
Thanks Sam,Are they likely to accept a proposal of repaying by instalment on all 3 if they cant be consolidated? Or should I be thinking about an IVA?
Expert:  Sam replied 9 months ago.

Hi

I cannot comment on whether an IVA would be appropriate s I have no financial/debt expertise (we are just tax experts)and of course this should only ever be considered as a last resort, but I would at least advsie to consider having a chat with an organisation to see if the IVA might be the way to go if you feel the amounts HMRC expect as a minimum repayment and the time scale is not going to be possible.

Do let me know if I can assist further, but if you have all tat you need (and you can always come back for additional support) then it would be appreciated if you would rate me for the level of service I have provided (or click accept)

Thanks

Sam

Sam and other Tax Specialists are ready to help you

Related Tax Questions