The Chancellor in his budget yesterday is introducing changes in respect of the collection of taxes within insolvency. From April 2020, when a business enters insolvency, funds will go towards public services rather than to other creditors. This will apply only to taxes collected by a business (i.e. VAT, PAYE, EE NIC, CIS). Corporate Tax and ER NICS will continue as unsecured creditors.
For more information contact our Business Recovery & Restructuring Services.
Alison Burnside – email@example.com
Seamas Keating – firstname.lastname@example.org
Gary Digney – email@example.com