A guide, not advice. This explains how things generally work. A licensed insolvency practitioner will tell you what applies to your company or to you.
What happens if you miss a Time to Pay payment?
A missed instalment doesn't automatically end a Time to Pay arrangement - but an unexplained one can, making the full balance payable and returning you to HMRC's enforcement path with the goodwill spent.
In the days around a missed payment
Before the date beats after: HMRC varies arrangements for genuine, temporary, explained causes far more readily than it forgives silence - call, explain, and propose the catch-up.
After a default: engage immediately; whether the arrangement survives usually turns on the speed and credibility of the response.
What a struggling TTP is telling you
Arrangements fail for a reason, and it's rarely bad luck twice: if the instalments plus current taxes plus running costs don't fit inside real revenue, the arrangement was a hope, and the viability question is now due - honestly, before the next quarter's VAT joins the pile.
The fork in the road
A genuinely viable business renegotiates once, realistically, with headroom; a non-viable one is better served by the orderly alternatives than by a second arrangement built like the first.
0333 023 5090 - bring the arrangement terms and the real numbers, and a licensed practitioner will tell you which fork you're at.
InsolvencySupport.co.uk is operated by Xeinadin Corporate Recovery Limited (company no. 11415156), 8th Floor, 100 Barbirolli Square, Manchester M2 3BD. Our insolvency practitioners are licensed and regulated by the ICAEW.
This article is intended for general information purposes only and does not constitute financial, legal, or professional advice. Always take advice from a licensed insolvency practitioner about your specific position.