Increased HMRC activity could be causing the recent rise in Scottish company liquidations, according to an Aberdeen insolvency specialist.
New figures from Creditsafe showed 141 new Scottish administrations and liquidations in May – the highest number since December 2022 when 142 cases were recorded.
Michael Reid, Aberdeen-based partner and insolvency specialist at MHA, one of the UK’s largest accountancy practices, believes the Creditsafe data may well highlight increased HMRC action following a lull in them pursuing companies during the Covid epidemic.
One impact of the increased number of company insolvencies is scrutiny of the Covid Bounce Back loan scheme. The scheme…