A Time to Pay (TTP) arrangement is a plan HMRC agrees with a company that cannot clear a tax bill — VAT, PAYE or Corporation Tax — in one go, letting you spread it over an agreed period instead. If you have one in place, or are about to ask for one, it is worth understanding how it interacts with what you owe us. The short version: a TTP is an agreement between your company and HMRC. It does not, by itself, change your Credicorp repayment. But it is a strong signal that cash is tight, and that is exactly the moment to talk to us.
A TTP does not pause your Credicorp payment
HMRC and Credicorp are separate creditors. Agreeing a payment plan with one does not automatically adjust the other, and we are not told when a TTP is granted. Your Flex or Slice repayment continues on its existing terms until we agree something different with you directly. So if committing to the monthly TTP figure leaves your company short on our repayment, do not assume the two cancel out — let us know.
Why telling us early helps
When you contact us, we can look at your Credicorp repayment alongside what you have agreed with HMRC, so the combined monthly burden stays realistic. Coordinating your creditors deliberately — rather than meeting one in full and quietly falling behind on another — is almost always the better outcome. Reaching out before a payment is missed keeps far more options open than waiting until the account is already in arrears.
What we may be able to do
- Look at a forbearance option — a short pause, a reduced payment for a period, or a longer arrangement — so your Credicorp payment fits around the TTP instalments.
- Set the size and timing of payments around when money realistically comes into the business.
- Record everything as an agreed plan, so a deliberately reduced payment is not logged as a simple missed one.
Any arrangement depends on your company's circumstances, and we will go through what is workable with you. See what forbearance options are available for business borrowers and how we decide on a payment arrangement for your company for the detail.
What to tell us
You do not need a polished plan first, but a few facts make the call quicker: that a TTP is in place or being applied for, the monthly amount and rough end date, what is driving the pressure, and what you could manage on your Credicorp repayment in the meantime. Our short guide on how to prepare before you call us about payment trouble walks through this. If your accountant is handling HMRC for you, they can deal with us too — see whether a third party or accountant can deal with us on your behalf.
One more point on the tax bill itself
For the TTP application, prepare your figures and contact HMRC's business payment support service directly; we cannot set up the tax arrangement for you. If the wider picture is difficult and you would value a second opinion, free and independent help is available — see free business debt advice organisations in the UK. As an FCA-exempt business lender we work with companies, not consumers, but the principle is the same across the board: a creditor that hears from you early can do far more than one finding out after the fact.
See also: A debt collection agency has contacted me - is it genuine?, Can I get a payment extension?, Can my company make a partial payment if it cannot pay in full?.