Will HMRC Shut Me Down 2017-04-25T11:35:16+00:00

Will HMRC Shut Me Down?

Now that is a question! In principal, we believe that the Government want you to be in business, so that you can employ employees (removing them from unemployment), generate VAT income, and make taxable profit. If you do this, you are generating, PAYE, VAT and Corporation Tax for the treasury.

It doesn’t always feel like this in practice

What We Can Do For You

  • Stand between you and HMRC

  • Negotiate on your behalf

  • Make sure that you are not put under pressure

  • Identify all options to prevent closure

  • Get the Company an exit route that saves the business

Will HMRC Shut Me Down?

Now that is a question! In principal, we believe that the Government want you to be in business, so that you can employ employees (removing them from unemployment), generate VAT income, and make taxable profit. If you do this, you are generating, PAYE, VAT and Corporation Tax for the treasury.It doesn’t always feel like this in practice

What We Can Do For You

  • Stand between you and HMRC

  • Negotiate on your behalf

  • Make sure that you are not put under pressure

  • Identify all options to prevent closure

  • Get the Company an exit route that saves the business

Why should HMRC want to shut you down?

The number one reason HMRC  close businesses is if those businesses generate taxes, but don’t pay them over. You become a liability, and if there is no hope of payment it is “better” from HMRC’s perspective to stop you incurring further debt.

If HMRC allow you to continue trading, they have to go to the expense of collecting monies that you owe. If you fail to pay on a regular basis, you become a little bit like a bad customer, in that you keep taking more credit, but never pay it back when you say you will.

HMRC can’t “put you on stop” like you would with a bad customer, but they may take the view that a fundamental change has to be made before they will give you any more chances.

We help numerous companies each year to come back from the brink of destruction. We may be able to do the same for you.

If your company feels threatened by HMRC enforcement, call us without delay on 0800 007 5010 to discuss your options. The longer you leave it, the more the options become limited.

Winding Up Petition

Company Advice have the experience and expertise to get you back on track, no matter what company issue you are facing. Call us today if you would like help with this or any other Company related issue.


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0800 007 5010

Company Advice have the experience and expertise to get you back on track, no matter what company issue you are facing.

Call us today if you would like help with this or any other Company related issue.

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0800 007 5010

HMRC’s Weapons

Technically, HMRC can’t shut you down directly, but some of their collection techniques can essentially have the same effect.

  • They can make it impossible for you to trade by removing assets through Control of Goods.

  • They can make a Notice of Requirement asking you to pay a bond, which the business may not be able to afford. If the bond is not paid there is a fine of £5,000 for each taxable supply you make.

  • Or they can issue a Winding Up Petition demanding payment of all arrears, which if not satisfied will result in the court issuing a Winding up Order against the company and putting it into Compulsory Liquidation (technically it is the court that closes the company down)

Making a Time to Pay Arrangement Protects the Company

The problems arise if you cannot make a time to pay arrangement.

What happens next? If you can’t make a time to pay arrangement, you will fall into the enforcement regime of HMRC and steps such as Control of Goods and Security Notice Requests may follow, ultimately leading to a winding up petition being issued.Any sort of pressure from HMRC or any other creditor should be a sign to a responsible Director to show that something is amiss within his Company.

You may already be well aware of this problem, but you should check that you have it fully identified, and know what your plan is to deal with it.

GET HELP TODAY

Do you think you have a problem that we haven’t seen before? Is your Company such a special case? Of course not. We have seen (almost) everything.

What should I do?

If you are experiencing any of the above, don’t deal with things on your own. You need help to avoid having your company trade stopped, or seriously impacted in the near future. You can speak with us using our free phone number 0800 007 5010 to find out how to save your business.

For HMRC to get to the stages mentioned above, there will have been serious default on your part. Either payments have been missed completely, returns are consistently being underpaid, or returns aren’t being submitted at all.

At each of the stages mentioned above, the options available for the company to recover become reduced. At each stage the options for settling arrears informally through a Time to Pay Arrangement diminish, and you will be expected to pay the full balance of arrears in shorter and shorter time periods.

If you are having issues paying HMRC then seek advice NOW, do not wait for these processes to start before you take action. The sooner you act the more options we have for successful remedies.

HMRC are there to collect Tax, but if it becomes clear that tax will not be paid, they will try and ensure that no further liabilities are incurred. That’s why the longer you leave it the less open they are to negotiating payment terms. If the company is closed, then it cannot incur further liabilities.

That’s why you need our help. We know how to speak their language, and identify what they want and how they want it presented. You have a much better chance at negotiating a way out of HMRC debt if you seek help and advice so call us on 0800 007 5010 to find out your options.

Arrange Your Confidential Consultation

If you’d like to protect your business, please contact Company Advice directly. Every business is different and requires a unique approach. Find out what your options are with a free, no obligation consultation today. We look forward to hearing from you.

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