Background
The majority of people in the UK want to pay the right tax at the right time because they believe that it is the right thing to do and appreciate that tax revenue funds public services for everyone. HMRC provides a flexible range of support for those who would like to pay on time but find it hard to do so.
We will continue to support viable businesses with our Time to Pay arrangements. Its essential that any business that is struggling to pay what they owe contacts HMRC, with support available through the Business Payment Support Service.
HMRC as a preferential creditor
Where a company or individual becomes insolvent, the taxes paid by employees and customers, which the insolvent business was temporarily holding, do not alway…
Read the full article at: https://www.gov.uk/government/publications/hmrc-as-a-preferential-creditor/hmrc-as-a-preferential-creditor
