This is because, in the case of a CVA, the return is over a period of 3 to 5 years and may not cover the entire debt. Even though the company eventually became insolvent, HMRC cannot be abandoned with anything. It is therefore possible to convince HMRC that a “time to pay” agreement is the best way to ensure that all unpaid taxes from the company are recovered within a reasonable time. HMRC may enter into another time-to-pay agreement when other commitments are due, but they will look at the company very carefully before doing so, and this should not be used as a modus operandi. If you do not have another TTP agreement, HMRC is open to structured payment plans for a period of 12 months or less. There are no defined criteria, but you need to have a convincing argument to explain why you can`t pay on time and how you will repay them during the deal. Honesty is paramount and if HMRC discovers that you have falsified or misled them in any way during the application process, they can and will often terminate the agreement. If you are late in payments, you can break the agreement and, of course, if your situation deteriorates, they will reassess the amount of risk. Remember, Time to Pay is for temporarily struggling businesses that have the ability to become viable. .