Partner Article

Can’t pay your corporation tax? Try this…

Running a business can be a very rewarding adventure.Often the benefits in the ways of freedom, income and job satisfaction greatly outweigh the negatives. Of course, there are times when being a company owner can be stressful.

Financialissues are something that everyone running a business has to deal with. Often, with the help of a good bookkeeper or accountant, everything financial can be kept running smoothly. This means that company owners can concentrate on doing what they do best – providing their products and services and keeping the customers coming in.

Sometimes, however, financial problems arise that need to be solved so the business can get back to running normally as soon as possible. Issues, of course, are inevitable for every business, and caninvolve paying employees, renting business premises, applying for loans and paying taxes.

Many a business owner often stresses out if they can’t pay their corporation tax. This important duty that companies in the United Kingdom are required to pay is sometimes difficult to deliver on, especially if business has been slow. So what can companies do if they find themselves in this situation?

First of all, anyone who can’t pay their corporation tax is advised to consult their accountant. A good firm of accountants can often directly with excellent advice, or point you in the direction of a particular expert that can help.

Another option is to seek out free or reduced cost advice from your local council or government body. Many of these organisations run complementary training courses and support related to finances, aimed at people in business. There are also many independent services operating in tandem with councils that offer valuable financial advice.

Although many of these services are notably great as apreventative measure for financial issues, they can be very useful in providing some matter of fact information about the best recourse of businesses in certain situations.

If you are lucky, there is sometimes free or low price one-to-one advice given to business owners. In all cases, it is advisable to contact your local council to find out what services are on offer and how they can help your company.

One very popular option when facing the reality that you can’t pay your corporation tax is turning to one of the many private companies that specialise in helping companies out which find themselves in difficult financial situations. They aim to help anyone whoisseeking solutions to their debt and loan repayments.

A lot of these companies approach their work with a great deal of empathy and willingness to help their clients. As a company aiming to keep customers happy, they often provide the best advice they can, tailored to each specific need and request.

There are also a significant number of highly-qualified financial experts working for these kinds of debt relief and advice companies. They often draw on a wide range of expertise to be able to meet the requirements of all their clients.

It is important to research the reputability of each company however. Whereas it is likely that a local council can be guaranteed to provide a certain standard of advice, when consulting a private firm it is best to look at the results they have achieved for their clients. Make sure they explain how they can help youspecifically if you can’t pay your corporationtax.

Fortunately, many debt relief companies can be found onlineand often display in-depth testimonials and case studies of clients that they have previously helped. Many also offer free advice on their websites to get you started towards a solution.

If you can’t pay your corporation tax, don’t panic. There are many options to help you move towards a better financial situation, available from both the public and private sectors. It is wise to try several options to make sure that you find the specific solutions that you are looking for.

About Company Debt: Company Debt is a free financial advice service offered by Jameson Smith & Co Ltd. The company prides themselves on providing some of the very best business debt help available in the UK, and they have helped hundreds of companies turn around their fortunes in the last twelve months alone. Company Debt offers free of charge advice in the areas of Liquidation, Winding Up Petitions, Administration, Insolvency Problems, HMRC Tax and Business Recovery. Company Debt provides an online chat service as well as a dedicated telephone line for personalised advice. All information shared with Company Debt is treated in strict confidentiality, and many in-depth case studies are available on request. For more information, visit their website at: www.companydebt.com

This was posted in Bdaily's Members' News section by Mike Smith .