Government to re-establish its preferential ranking in insolvencies

On 12 July 2019, the government published the draft clauses for the Finance Bill 2019-20, due to be enacted this autumn. Prior to 2003, the government was a preferential creditor in insolvencies whereby HMRC received a preference for certain taxes.  This was changed by the Enterprise Act 2002, which reduced the government to a non-preferential … Continue reading Government to re-establish its preferential ranking in insolvencies