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HMRC pressures remain – Leonard Curtis agrees 157 Time to Pay arrangements in 2024
The Leonard Curtis funding team has seen a significant increase in HMRC time to pay enquiries – up 58% compared to 2023 numbers - due to a combination of factors.
There has been a notable rise in enforcement action from HMRC over the last 12 months, which has prompted business owners to take early advice, engaging with both professional advisors and HMRC prior to enforcement action being taken.
Furthermore, with the associated risks connected to secured lending whilst a business has outstanding tax due to HMRC, we have seen an increased requirement from banks and funders for both new and existing clients to have a formal agreement with HMRC.
With debt size ranging from £50,000 to over £10million, these challenges affect businesses of all sizes, taking debt advice early is critical to ensure business survival in a tough economic climate.
The Leonard Curtis team's exceptional reputation, proven track record and access to multi-disciplinary solutions continues to play a key role in helping clients seeking expert assistance.
To find out more about how Leonard Curtis can support your clients or business when under pressure from HMRC, visit www.leonardcurtis.co.uk, get in touch with your local team, or call 0161 835 1900.
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Leonard Curtis is a trading style of Reach Commercial Finance Limited, registered at Riverside House, Irwell Street, Manchester, M3 5EN. Company Register number is 09056450. Reach Commercial Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 753686. Reach Commercial Finance Limited is an authorised credit broker and not a lender. We work with a an unrestricted number of lenders to find a potentially suitable arrangement for your consideration. ICO registration ZA069234 and you can check via www.ico.org.uk. We will receive commission from lenders. Different lenders pay different amounts depending on different commission models. For transparency we work with the following commission models: fixed fee, fixed rate of commission, percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business). Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey. Privacy notice.
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.