Managing Your Creditors

6. Employer's PAYE and NI

HM Revenue & Customs and the Contributions Office are similar in their approach.

If you are late in paying tax or National Insurance, there may be less onerous penalties.

6.1 Individual Collectors of Taxes (or tax inspectors) have the authority to agree an arrangement to pay with you.

• Adopt the same approach as for HM Revenue & Customs.

6.2 Interest is payable on any late payments, currently at a rate of 7.5 per cent per annum.