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HMRC has introduced major changes that many directors still don't fully understand.
From higher interest charges on unpaid tax to tougher penalties for late filing and payment, the cost of falling behind with HMRC is rising faster than ever. At the same time, HMRC now has access to more financial information than most directors realise, making it easier to identify undeclared income and discrepancies.
In this video, Chris Worden explains the latest HMRC changes, how they affect company directors, and the practical steps you can take to avoid costly mistakes.
Discover:
• Why HMRC debt now grows faster than it did in previous years
• How changes to HMRC interest rates increase the cost of unpaid tax
• Why delaying action on tax arrears can become significantly more expensive
• How the new late filing penalty points system works
• When HMRC issues £200 fines for repeated late submissions
• The new penalties for late VAT payments and how they escalate over time
• Why filing tax returns on time remains essential, even if you cannot pay
• How interest, penalties, and surcharges can quickly increase business debt
• The common mistakes directors make when facing HMRC pressure
• How HMRC receives information directly from online platforms and marketplaces
• Why directors are receiving HMRC "nudge letters" about undeclared income
• How HMRC cross-checks financial information against submitted returns
• What to do if you receive a letter from HMRC about undeclared earnings
• Why Time to Pay arrangements are becoming harder to secure
• What HMRC now expects before approving a payment arrangement
• The mistakes that can cause a Time to Pay agreement to be cancelled
• How to prepare a realistic proposal that HMRC is more likely to accept
• Why seeking professional advice early can save significant money and stress
If your company is struggling with HMRC arrears, VAT debt, corporation tax liabilities, cash flow pressure, or creditor concerns, this video will help you understand the latest changes and protect your business from unnecessary costs.
Book now for a free business insolvency check
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