If your Limited Company struggles to pay HMRC, the consequences can be severe, including legal action, penalties, and business closure. Address the issue promptly to prevent escalation.
Seek assistance in managing pressure from HMRC, ensuring compliance and resolving any issues that may arise.

Phoenix Company Consultants offers assistance with HMRC pressure and debt problems, providing experienced consultants to help find a suitable solution. Benefit from professional advice, business support, and guidance negotiating with HMRC.

Can HMRC Force the Closure of
My Business?

HMRC has the authority to petition for a Compulsory Liquidation (Winding Up Petition) if your business fails to settle its tax bill.
This drastic measure can profoundly impact your business and its reputation, usually enacted as a last resort after exploring other options. In cases where the company possesses assets, a HMRC field officer might visit, distrain on these assets, uplift them, and sell them to offset the debt.

If you’re grappling with HMRC debts, our team is ready to provide expert advice and support.

Explore Your Options with Us

Is it Possible to Eliminate Business HMRC Debt?

Business HMRC debt can only be written off through a formal insolvency process such as Liquidation. This intricate process necessitates expert advice and support.

HMRC offers Time to Pay schemes for struggling businesses, and a Company Voluntary Arrangement may be suitable, allowing the company to repay unsecured debts over approximately five years based on cash flow and affordability. If concerns about paying business HMRC arise, seeking professional advice beforehand is crucial. Phoenix Company Consultants can guide you on available options and assist in negotiations with HMRC. Discuss your situation with our team.