Hello All, I have a client who has a cash rich business but for some reason they have/are stuggling to pay their Paye/Nic's I was wondering if anyone out there knows of any deferall techniques or any business link type help?
If your client is struggling to pay PAYE/NIC then they should contact the payroll office at HM R & C to explain the problem. HM R & C may well accept their explanation and allow them to pay at the tax year end. If the Revenue think that they are a "risk business" then they will insist on payment and will apply fines if payment is not made. A lot of Companies do wait until the year end(with Revenue agreement) but it is worth pointing out to them the size of the bill that they will be required to pay at year end. If, as you say, they are a "cash-rich" Company then the Revenue may well treat them as "High risk", in that they may abscond with the funds before payment is due at the year end. If they owe a large amount of money then they WILL get an Inspector calling, with the power to demand the money or, worst case scenario, seize/restrain goods to the value. Just be careful that You don't fall fowl of MLR by not reporting your suspicions!
