The deadline for filing your taxes was 31st January 2023. And I’m sure you have filed them already. But now comes the time when you start worrying about having to pay the tax authorities what you owe. What if you can’t pay taxes right away?
It’s not the best feeling in the world, I know – though it’s a reality many times. If you can’t pay taxes for your business, you still have options. So, worry not. You can get over this hurdle.
What to do if you can’t pay taxes?
First thing is first – do not panic. I repeat, do not panic. Getting too stressed out about it doesn’t help. As a matter of fact, it will only worsen the situation.
So, rather than becoming too anxious about the fact that you can’t pay your taxes within the given deadline, let’s take on a proactive approach. There are always options, and here’s the part where you can hear about them.
Click on the video below to hear what is best to do when you can’t pay taxes. Take out a pen and paper, and write down the main information you need. Then go on and take action.
It’s not the end of the world if you can’t pay taxes right away. As you saw from the video above, there are arrangements you can make. The HMRC has mechanisms to accommodate such cases. Stay positive, and proactive.
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