R3 Technical Alert

The Return of Crown Preference

Following on from our blog last year, regarding HMRC's proposal to return to being preferential creditors, we can confirm that on the 11 July 2019 HMRC issued draft clauses for the new Finance Act in that regard.

It therefore seems that HMRC will become preferential creditors once again, which will inevitably reduce the amount returned to unsecured creditors.

If you would like a free telephone call to discuss how this could affect you or your company please telephone Chris on either 01326 340 579 or 01305 458 383.