Understanding Your Options for Tax Debt

Inland Revenue has recently released a draft update, outlining how it approaches relief for tax debt. This includes options such as writing off amounts, setting up instalment arrangements, or reducing interest and penalties, depending on individual circumstances.

The guidance explains the factors Inland Revenue will consider when deciding whether to grant relief. It also makes it clear that relief is not guaranteed, and in some cases, Inland Revenue may take further action to recover outstanding amounts.

This draft replaces earlier guidance and provides a clearer view of how these decisions are made. However, it does not apply to child support or student loan arrears.

While still under consultation, this update gives a useful indication of the options that may be available if you are dealing with tax debt.

If you would like to discuss your situation, feel free to get in touch with us.