.png)
.png)
NIGEL FOX considers the options available to businesses finding it hard to meet their tax liabilities
KEY POINTS
- The recession sees increasing insolvencies.
- HMRC and the loss of preferential creditor status.
- What action will HMRC take to recover tax debts?
- The importance of early discussions with HMRC.
- The new Business Payment Support Service.
- Administration and keeping the business going.
With the recession biting and businesses continuing to feel the effects of the credit crunch increasing numbers of companies and individuals are struggling to discharge their liabilities to HMRC.
The total number of those entering into formal insolvency proceedings is unprecedented with the latest statistics indicating that there were approximately 36 000 bankruptcies voluntary arrangements liquidations and administrations in the first quarter of 2009.
While there is no easy way to measure how many of these 36 000 insolvencies involved a liability to...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
