Government (belatedly) reintroduces suspension of wrongful trading rules The wrongful trading suspension was reactivated by the UK Government last week. What does this mean? In insolvency, directors that side-step their legal and fiduciary...
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Finance Act 2020 gives HMRC powers to make directors and others connected to a company, jointly and severally liable for the company's tax liabilities if the company becomes insolvent. It’s likely that many businesses will struggle to recover to...
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In insolvency, directors that side-step their legal and fiduciary responsibilities may be disqualified from being able to act as a director for a period of time. It is imperative that during difficult trading conditions directors remain vigilant...
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The Finance Act 2020 received Royal Assent on 22 July, confirming that from 1 December 2020 HMRC will become a secondary preferential creditor in insolvencies. This is a disappointing announcement for the insolvency industry which believes the...
Read more...Anecdotal evidence has suggested that HM Revenue & Customs have been adopting a hard line stance on businesses that fail to keep up with their payments to the Crown for some time now. Recent figures have seemed to confirm this. In the year...
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