If you need to ask HMRC for extra time to pay your company’s tax liabilities, you may have to forego your dividends. Where the company has paid out dividends, instead of paying its tax bills, HMRC are not inclined to grant a time to pay agreement. This block on dividends could cause extra tax liabilities to arise where you have an overdrawn loan account with your company. Talk to us to help sort out the mess. 

Guidance on time to pay conditions

http://www.hmrc.gov.uk/payinghmrc/problems/bpps.htm