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Income Tax Debt Help

If you’re feeling overwhelmed by mounting tax obligations, you’re not alone. Many individuals and businesses find themselves facing the daunting challenge of income tax debt. But fear not! With expert guidance and effective strategies, you can navigate through this financial maze and emerge stronger than ever.
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Understanding Income Tax Debt

Before delving into solutions, let’s understand what income tax debt entails. Income tax debt refers to the amount of taxes owed to the government that remains unpaid by the due date. This can result from various factors such as underpayment, failure to file tax returns, or discrepancies in reported income. Regardless of the cause, ignoring income tax debt only exacerbates the problem, leading to penalties, interest charges, and potential legal consequences.

The Impact of Income Tax Debt

If you’re struggling with debt, whether you’re unable to pay your energy bills or your credit card has been maxed out, chances are you are looking for a way to improve your financial situation as quickly as possible.

The good news is it’s possible to solve your debt problems no matter how drastic, although it may take some time before you can successfully pay your debts in full.

By doing your research on debt help, you’ve taken the first step in your debt action plan. The next step is to seek professional debt advice.
A professional debt adviser will be able to offer you advice based on your circumstances, and guide you towards the debt solutions that suit you best. That’s where we can help.

How we can help you?

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Lets Talk

Tell us about your current debts and one of our experienced and friendly advisors can help you get the ball rolling.

Debt Solution

Dependant on your circumstances and financial situation, we'll let you know if an IVA is a potential solution for you.

We’ve Got It Covered

If you qualify for an IVA, we will take the necessary steps to set up and arrange this for you.

Why our customer choose us?

15 years

experience

Non-judgemental

and supportive

IPA

authorised

Honest and confidential

advise

Highly Rated

and recommended service

Helping you take back control of your finances

Reduce My Debt

Credit Score

Credit Score Pop Up Wording : An Individual Voluntary Arrangement (IVA) is a formal agreement with creditors to repay a portion of your debts over time, but it does have an impact on your credit score and it will be difficult to obtain further credit whilst on an IVA. Once an IVA is approved, it is recorded on your credit report and will typically remain there for six years from the date it starts.
However, it’s important to note this is the case for most debt solutions and your credit score will likely already have been affected by being in debt in the first place.
Once your IVA is complete you will get a fresh start to begin rebuilding your credit rating.

Fees

IVA costs are charged for the preparation of your proposal and the administration of the arrangement for the full term (usually 5 years) these costs are charged from the monthly contributions you make into the IVA and are not in addition. Costs will only be recovered on approval of your arrangement and once you commence making payments to it. The fees for preparation of the proposal to creditors and calling the meeting for creditors to vote on its approval are called nominees fees, the fees for running the arrangement once approved are called supervisors fees. There are also some expenses incurred in the running of the arrangement such as the registration fee and the statutory insurance that needs to be taken by law, these are called disbursements. For our arrangements, the total of all of these is £3,650 although this may be adjusted by creditors when they vote on whether to accept. No matter what the end total of costs come to, you can be rest assured that these will be taken from the monthly payment we agree with you.