TTP arranged with HMRC for National Restaurant Chain - Resolve Group UK

Case study

Resolve Group UK

TTP arranged with HMRC for National Restaurant Chain

Our client operated a recognised brand of national restaurants employing over 1,000 people across the UK with a turnover of circa £40m.

A Crown debt of circa £1.2m had built up over the preceding months and, due to seasonal cash flow pressure, the Company did not have the funds to settle the liability as well as other key liabilities. ReSolve was asked to review the Company’s cash-flow forecasts and advise on the likelihood of a Time-to-Pay (TTP) arrangement being negotiated with HM Revenue & Customs (HMRC).

The difficulties to be overcome were the seasonality of the business, the Company’s requirement to increase payments over time and the need to seek a repayment period longer than six months.

ReSolve conducted an independent business review in support of a detailed, credible and feasible proposal to HMRC on behalf of the Company which included a detailed forecast and cash-flow model to ensure HMRC had the full details behind the repayment proposal and how it was to be implemented.

Despite initial concerns with the Company’s proposed repayment plan, ReSolve was successful in negotiating a TTP arrangement with HMRC on the Company’s behalf. This safeguarded the jobs of circa 1,000 employees and gave the Company critical time to agree a solvent sale of the business.

Read more case studies

Go back