Tax Issues - Tax can be taxing...

Read below to see just a couple of our clients circumstances, and how we successfully helped them

Product of the Economic Downturn
With the credit crunch taking into effect around August 2007, a well established medium sized law firm didn’t start to experience financial difficulty until well into 2008, with a reduction in fee income and with having major overheads, it was not long before the firm fell behind on payments of VAT, PAYE, and the partners self assessment income tax. In 2009, they had accumulated around £500,000 of unpaid tax that needed urgent attention. Tax Issues successfully negotiated a significant reduction in repayment of the outstanding liabilities set over a realistic repayment term with HM Revenue & Customs, and all interest & charges were frozen. The firm can now continue to trade successfully whilst having the peace of mind that they can clear the overdue tax liabilities over a term that makes it affordable.

Painting a dour picture
A self employed painter & decorator incurred an overdue tax liability pertaining to self assessment after falling from scaffolding, breaking an arm & leg, which rendered the individual unable to work. With this individual having rather successful earnings of £40,000 in the previous tax year, but only earning £28,000 the following year due to being out of work, he was unable to make the appropriate payments on account when the tax became payable. Our client became visibly stressed and under pressure with phone calls, reminder letters and continual charges & interest being incurred. This individual was introduced to Tax Issues, and as a result our specialist team arranged a repayment plan that was manageable to the individual and halted any further interest & charges being placed on the account.

call our specialist Tax Team NOW on 08456 435735