For a company that can’t pay PAYE on time (employee income tax & national insurance contributions) to the HMRC - there are choices available. As Licensed Insolvency Practitioners we can help to pinpoint underlying reasons why you can’t pay PAYE and following financial evaluation, recommend the most feasible option to move forward with.
We have a lot of experience with companies unable to pay PAYE and often a solution may be an informal HMRC Time To Pay arrangement.
Other HMRC Debt Management Solutions
Pre-Insolvency Moratorium | CVA | Administration | Alternative Finance: Invoice Factoring, Asset Finance & Peer to Peer Lending.
Penalties for late HMRC PAYE
HMRC financial penalties: late payment interest (adding to arrears)
HMRC legal penalties: CCJ, Statutory Demand, Winding Up Petition
*Directors of limited companies should also know that owing PAYE is a symptom of company insolvency and trading whilst insolvent can make them personally liable for company debts. In addition, if serious neglect or fraud is suspected, HMRC can issue a Personal Liability Notice (PLN). Please enquire for more detail.
