How to Avoid Falling Foul of MTDfV Penalties
What are the main HMRC penalties for not complying with Making Tax Digital for VAT (MTDfV) and how can you avoid them?
If your business is facing the threat of creditor legal action or you are experiencing late payments, increase in costs, unexpected tax debt, CCJs or a Winding Up Petition, then seeking out early professional advice can make a huge difference to the future of the company.
Over the years we have built strong and lasting relationships with a small group of trusted corporate recovery and insolvency practitioner partners (IP). These expert IP partners work tirelessly to help sole traders, partnerships and companies – providing advice to businesses that are still solvent, but who need help to turn fortunes around and return to profitability.
The survival of your business is always their priority and they’ll act quickly to advise on a range of recovery options including;
When the recovery of your business is not possible our IP partners can advise on the best insolvency solution, including the proposal of a Partnership Voluntary Arrangement (PVA), Partnership Administration or Individual Voluntary Arrangement (IVA).
Helping you decide whether liquidation is the most suitable option for your individual circumstances and managing the process on your behalf, with discretion and sensitivity from beginning to end.
If you are a sole trader, or your business operates as a partnership, you are personally liable for the debts of the business.
That’s why it’s so important to get help early if the business is struggling financially. There are often steps you can take to protect your personal financial position and avoid bankruptcy.
Arrange a free confidential consultation with one of our trusted licensed Insolvency Practitioner partners
Call us on 0207 4021377, or if you’d prefer, fill in our contact form and we’ll call you back.
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What are the main HMRC penalties for not complying with Making Tax Digital for VAT (MTDfV) and how can you avoid them?
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