HMRC are no different to credit card companies, banks etc. Their debts are unsecured and we do see a growth in self employed calls in January and July when the payments on account are to be made.
HMRC do insist that returns are submitted regardless of whether you can pay so even if you do not have the funds for the payment on account ensure the return is in. HMRC are a commercial creditor and provided your case meets their criteria and you do not have a history of non compliance there is no reason any proposal would be rejected. Contact an IP firm for some free advice and good luck.
in my situation I'm self employed and although i didn't owe any tax payments to hrmc when i got my iva approved i got a letter and i spoke to hrmc who told me that i will get a brand new tax reference number to start from the april 2010 and when i do my final self assessment on the 4th april 2010 with my old tax referance number they will calculate what if anything is owed to them and forward any repayment to my iva company to go towards the iva debt.
hope i've explained that well
best of luck mate
Who is onlineUsers browsing this forum: Google [Bot] and 25 guests
Ask the IVA Experts a QuestionSimply complete form and you will get an answer from our IVA Experts (multiple replies within an hour *)
* Any use of this forum is conditional on you having read and agreed to our terms and conditions.
* If you enter your phone number, Vincent Bond and Co Ltd will give you a courtesy call to ensure that your question has been answered.
* The question will be posted on our forum, we will email you the location