Over half of winding-up orders now being issued by HMRC

July 2006
Credit Control;2006, Vol. 27 Issue 7/8, p93
Trade Publication
The article reports on the percentage of petitions issued by Her Majesty Revenue & Customs, a non-ministerial department of the British Government primarily responsible for the collection of taxes, state support and import controls, to wind-up companies. The department reportedly issued 58 percent of all the petitions to realize its aim. Its aggressive approach to collect unpaid tax or national insurance contributions is due to its loss of preferred creditor status in 2003.


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