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Daily Archives: November 19, 2020

COVID 19: UK Insolvency Reform Crown Preference Returns From 1 December 2020 – JD Supra

BankruptcyBy Insolvency GuardianNovember 19, 2020

Executive summary On a UK companys insolvency, the UK tax authority (HMRC) will become a preferential creditor in respect of certain unpaid taxes (Crown Preference) with effect from 1 December 2020. Despite lobbying against the move (including in light of the COVID-19 pandemic), the UK government has persisted with the change, perhaps in an attempt…

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