HMRC debt is considered to be a ‘priority debt’, meaning you should aim to pay this off before other less important debts. Bear in mind that failing to pay this type of debt can quickly lead to legal action or bailiff visits.
If you are not able to pay you tax bill, then it is possible to have some or all of this debt written off through a debt solution like an IVA (Individual Voluntary Agreement).
In order for this to happen, HMRC would need to agree to this, therefore it is up to your Insolvency Practitioner to demonstrate that HMRC would ultimately get more money from the IVA rather than another solution like Bankruptcy.
To find out more, visit our HMRC Debt page.