The law of unintended consequences – HMRC as second preferential creditor
On 1 December 2020, despite strong opposition from the insolvency and restructuring profession, HM Revenue & Customs (HMRC) became a secondary preferential creditor in insolvencies, both corporate and personal, meaning it will be paid in priority to floating charge creditors, suppliers, pension schemes, customers and before deduction of the prescribed part.
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Read More about Cash flow pressures drives over 100% rise in insolvencies
Cash flow pressures drives over 100% rise in insolvencies
Insolvency figures released today for April 2022* by the Government’s Insolvency Service showed corporate insolvencies more than doubled compared to […]Read more
Read More about Rainbow Saver Anglia Credit Union Limited – In Administration (“RSACU”)
Rainbow Saver Anglia Credit Union Limited – In Administration (“RSACU”)
James Sleight and Peter Hart of PKF GM have been appointed as Joint Administrators of Rainbow Saver Anglia Credit Union, […]Read more