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With regard to the priority of HMRC in insolvency, it is proposed that HMRC should become a secondary preferential creditor in respect of certain debts. Further information about this change is available in a policy paper; the draft legislation and accompanying explanatory note are available, respectively, here (pdf) and here (pdf).
The Bill also contains a provision that will provide HMRC with a power to make directors (including shadow directors) jointly and severally liable for a company's tax liabilities, in a limited range of circumstances linked to avoidance, evasion and insolvency. Further information about this new power is available in a policy paper and the draft legislation and accompanying explanatory note are available, respectively, here (pdf) and here (pdf).
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