HMRC Debts

Many people are still not aware that HMRC (Her Majestys Revenue & Customs) are NOT preferencial creditors.  Simplified this means that they do not have any preference over any of your other creditors and should be dealt with in the same way.  The only difference with HMRC is that they can and will use effective methods in which to collect monies owed.  This could be by issuing a CCJ (County Court Judgment) followed by visits from bailiffs (and don't forget if your premises are solely commercial they can enter without permission) or even a Winding-Up Petition.  This information is not meant to scare you but to make you realise that you need to tackle your debts head on - the debts will not go away.

You could contact your creditors yourself and try to organise a payment plan but you need to be very careful that you do not show preference to any creditor, you also need to ensure that you payments are realistically affordable and not just a random figure given as a knee jerk reaction.  This is very time consuming and you may find that whilst you are negotiating with your creditors (who will play hard ball to get as much money from you as possible) you are not spending the time required earning money for your business.  It's a chicken and the egg situation!

There are lots of solutions available and of course, your situation will be unique to you therefore it is imperative that you recieve the best advice possible from a company that will work solely on your behalf.  Ensuring that your needs are met and that you are fully protected before your creditors recieve anything!

If you would like to have an informal chat on how Tenable Solutions Limited and its subsiduaries can help you please do not hesitate to contact me on 0800 4 96 95 94 or if you prefer you can email me for a speedy response.  Any contact is treated in the strictest of confidence and all advice is given without obligation.