Problems with HMRC
Failure to meet VAT or PAYE tax payments is often the first warning sign to HMRC that a business is insolvent. Therefore, they take the matter extremely seriously and are highly unlikely to be sympathetic towards any reasons or excuses for failing tax obligations. HMRC will be alerted immediately should your company fail to make payments and a great deal of scrutiny will be generated around your company affairs.
Therefore it is vitally important that you are prepared as possible and perhaps seek the help of a professional. If you act early enough with the right help, you may be able to negotiate a deadline extension in some certain circumstances.