25th November 2025
If your business is facing a growing pile of HMRC debt, the thought of closing a limited company can feel overwhelming. But understanding your legal responsibilities, exploring your options and acting early can make a […]
17th July 2023
Why Are HMRC A Priority Creditor? “It is crucial for businesses to understand the gravity of prioritising payments to creditors during times of financial distress,” says Tom Fox, Licensed Insolvency Practitioner at Umbrella.UK Insolvency. “While […]
6th October 2021
In most circumstances, directors and shareholders aren’t liable for a limited company’s debts. But there are some situations when you can be held personably accountable for your firm’s debt. If your business is struggling financially, […]
13th July 2021
HM Revenue and Customs has signalled that it will go easy on company debts as businesses recover from the coronavirus crisis. In a letter sent by business secretary Kwasi Kwarteng said that HMRC will adopt […]
31st May 2021
Can’t afford to pay your company’s Valued Added Tax (VAT) bill? It doesn’t need to be the end for your business. You may be able to negotiate a repayment plan with HMRC or you could […]
2nd March 2021
An influential panel of MPs has called on Rishi Sunak to introduce tax refunds for any small businesses and the self-employed workers that have incurred losses due to Covid. Ahead of the Chancellor’s Budget on […]
23rd November 2020
An important change to insolvency law could make it harder for businesess to borrow emergency credit and lead to more ‘chain reaction’ insolvencies. From 1 December 2020, HMRC will rank as a preferential creditor in […]
16th July 2019
Government plans, confirmed in the latest Finance Bill, to make HMRC a preferential creditor in company insolvencies are a ‘bad deal’ for businesses and the taxpayer, according to insolvency and restructuring trade body R3. The […]
8th November 2018
Buried deep in the Chancellor’s recent Budget was a new measure that gives HMRC priority over other creditors when claiming money back from an insolvent business. The move will reinstate HMRC as a ‘preferred creditor,’ […]
25th October 2018
Social media publisher UniLad has been bought by it’s archival and city neighbour LadBible. The company that owns UniLad was slapped with a HMRC winding-up petition in July. A court heard on 4 October that […]