Hi,
I am a Business Analyst Contractor and I work through my own Ltd Company. Over the last 3 years work has been very up and down and I have been 'in-between' contracts on average 4 months every year; as you can imagine this has caused me to run into debt problems and I am now about 4 months behind with my mortgage and also owe a substantial amount of Corporation tax and VAT to HMRC (25K approx). My concern is that I need to be able to operate as a Ltd company when I start my next contract (Jan 2013 hopefully?) but I also need a plan to pay HMRC and the Mortgage company? I don't want to go down the bankruptcy route but I also need to assure HMRC/Mortgage provider that I am going to pay my arrears with a suitable plan of action? Can you advise where I should start?
I am a Business Analyst Contractor and I work through my own Ltd Company. Over the last 3 years work has been very up and down and I have been 'in-between' contracts on average 4 months every year; as you can imagine this has caused me to run into debt problems and I am now about 4 months behind with my mortgage and also owe a substantial amount of Corporation tax and VAT to HMRC (25K approx). My concern is that I need to be able to operate as a Ltd company when I start my next contract (Jan 2013 hopefully?) but I also need a plan to pay HMRC and the Mortgage company? I don't want to go down the bankruptcy route but I also need to assure HMRC/Mortgage provider that I am going to pay my arrears with a suitable plan of action? Can you advise where I should start?
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