www.iva.co.uk

I owe the tax man a lot of money and have nothing. Will an iva help me? Or can you notvountvthe tax man as a creditor ?

Hi Stephen,

Yes, one of the advantages of an IVA compared to some other solutions is that HMRC debts such as income tax and VAT can be included in the agreement.

This can make an IVA a very appropriate solution for people who run their own business and have become personally liable for unpaid income tax, PAYE or VAT. Directors who have given personal guarantees on company debts will also include them in an IVA.

You would have to disclose all creditors including the tax debts when entering an IVA.

If you have outstanding returns you should get them in but if you have nothing HMRC will make you bankrupt and save you the fees.