Notice of Distraint issued by the HMRC
Have HMRC issued a Notice of Distraint against your business?
Since the Enterprise Act in 2003, the HMRC has concentrated its effort in chasing unpaid taxes.
Various methods are adopted Collecting Debts. A “Notice of distraint” by HMRC is a tool used more and more to put pressure on companies to pay. So, ensure you comprehend the implications of the document.
A common perception is that the HMRC are hostile’ (Not Physically) in their strategy for collecting overdue monies.
Before a HMRC officer visits your business premises, a notification by post advising your business is overdue is sent. Therefore, when a Bailiff or HMRC officer arrives with a HMRC “Notice of Distraint“, then it can come as no surprise, as the company has had a warning in writing.
Therefore, once you receive the letter, contact the HMRC and “START TALKING.”
Your company has a distraint served on it.
Contact the HMRC immediately. They may remove it if you enter serious negotiations. Do not avoid it. If you wish, seek independent advice from an independent Licensed Insolvency Practitioner. The HMRC is determined when collecting money. Soon a HMRC distraint officer will be at your premises to take an inventory of assets. They will if forced, sell them to pay for the Overdue Tax via a public auction.