Distraint Notice and Inventory HMRC

WHAT IT SAYS:

I have today seen and distrained on the goods listed in the inventory below. I did this at

If you do not pay the total amount shown above within 5 days of the date of this notice, including the costs of this distraint and any added interest, then I will arrange to see these goods.

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WHAT IT MEANS:

A Distraint Notice and Inventory letter from HMRC won’t have just come out of the blue; it is the result of prolonged failure to pay your tax overdue tax payments. As a result, HMRC are now threatening to auction off your company’s assets in order to raise funds to pay the debt. You have five days to make an intervention; i.e. pay what is owed or come to an agreement to pay in instalments over an arranged period. However, HMRC have heard everything before and may not be willing to negotiate as it’s likely they are tired of chasing you for payment. In these circumstances, it’s best that you talk to a licensed insolvency practitioner as soon as possible – you can do this free of charge in a one-to-one setting at your nearest Real Business Rescue office.