Lee Green looks at HMRC’s recent guidance update about possible joint and several liability notices being issued to directors of insolvent companies that have a tax liability with HMRC.
A ‘preference’ occurs when a company facing insolvency puts a specific creditor, or group of creditors, into a better position than the other creditors. A director could face personal liability if a preference has been made, which could result in the director being disqualified.
The Government has announced changes to winding-up petitions, with effect from 1 October 2021 – withdrawing some of the protections currently afforded to businesses. Lee discusses how this impacts businesses facing the threat of insolvency.
On 16 June 2021, the UK Government announced that they are in the process of extending certain insolvency measures. The current company insolvency restrictions on statutory demands and winding-up petitions will remain in force for a further three months until 30 September 2021.
As Primary Care Support England (PCSE) is launching a new online Payments and Pension Service from 1 June 2021, our medical accountants have been reviewing the changes and are getting ready to access their clients’ accounts in a different way. Read more about how the launch will impact GP practices.
On the 30th April 2021, new regulations were introduced by the Insolvency Service relating to the Pre-Pack Administration sales to connected parties. Read more about the details of these regulations here.
Welcome to part one of our five part blog covering the most frequently asked questions around insolvency and liquidation. For further advice about any of the topics covered in our insolvency blogs or regarding a specific scenario, please contact our insolvency & recovery specialists.
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