| Collectors
Pressurise Small Businesses |
| |
| Following
changes to the insolvency rules Crown debts no longer have preferential
status from September 2003. This means that the Revenue
becomes an unsecured creditor along with other ordinary suppliers. |
| |
| It
has been noticeable that the Revenue, and indeed Customs, have
recently started to attend creditors meetings rather than simply
lodge proxies and they can be expected to take much more interest
in future in the circumstances leading to company liquidations. |
| |
There
is also the likelihood that collectors of taxes will become
far more aggressive chasing outstanding taxes especially in
respect of smaller firms in order to minimise their potential
exposure in the event of insolvency.
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Wolverton
Mill, Milton Keynes, MK12 5NW | Photography by Stephen Lynn