HMRC (Secondary) Preferential Creditor

This week saw the reintroduction of HMRC as a (secondary) preferential creditor in new insolvency cases after its revocation 17 years ago.

We wait to see the impact this will have on the number of insolvency cases, the presence of HMRC as a petitioning creditor and how banks and other creditors will approach their relegation down the insolvency waterfall.

For anyone with concerns as to the impact of HMRC preferential status on either themselves or their clients please do not hesitate to get in contact with our office.