Another tax question

[sb-1]

We have a sizeable tax bill for Corporation Tax from the IR.

We have made a part payment (approx 1/2)but our accountant has since told us that they are demanding payment of the remainder now....we do not wish to pay the whole amount yet,what should we do next?

Steve

[Eric Mc]

If you cannot pay the tax bill you can explain to the Inland Revenue the reasons why you cannot. If they are satisfied with the reason given, they can, on occasions, allow you to pay off the tax arrears by monthly instalments - uusally over six months. They will charge interest of course. The one thing you don't do is do nothing. Otherwise the Inland Revenue will start distraint proceedings against your company.

[sb-1]

Thanks Eric I think we ahve resolved this now ...

Steve