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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 5607
Experience:  FCCA FCMA CGMA ACIS
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I'm due a considerable amount of corporation tax and VAT and

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I'm due a considerable amount of corporation tax and VAT and cannot pay this.
I have not worked for 5 months so have no income and HMRC are hounding me, is there anything I can do?

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

Is thiis your only debt or are there others? Presumably these debts are due from a company not you personally?

Customer: replied 5 months ago.
I have a LTD company, I am a one man band as I contract within the oil and gas industry

If the company has debts it cannot meet then it is the Director's duty to place it in administration. However, if fraudulent preferences have occurred, paying one creditor in preference to another, then the directors may be in difficulties. Has this happened?

Customer: replied 5 months ago.
I am only due to HMRC

Yes, but did the company pay anybody else in preference to HMRC?

Customer: replied 5 months ago.
No, that's the only people ever due money.

Then put the company into administration and that will be the end of your troubles.

Customer: replied 5 months ago.
What's the best way of doing that?

Go and see a licenced insolvency practitioner to do it for you.

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