Will HMRC accept an IVA?

HMRC, also known as the Her Majesty’s Revenue and Customs, is a government agency in the UK responsible for collecting taxes and enforcing tax law. HMRC may accept an Individual Voluntary Arrangement (IVA) as a way of paying off your debts, but it will depend on your specific circumstances.

An IVA is a legally binding agreement that allows you to reach an agreement with your creditors to pay off your debts over an extended period of time. If you owe taxes to HMRC, you may be able to include these debts in your IVA. However, HMRC may require you to pay a higher percentage of your debts under an IVA compared to other creditors.

It is a good idea to speak with a financial professional or an attorney if you are considering an IVA and owe taxes to HMRC. They can review your specific situation and help you determine the best course of action. You may also want to speak with an HMRC representative to clarify your options for paying off your tax debts.