Legal Updates

The re-introduction of Crown preference for certain taxes collected by businesses "on behalf of" another (including withholding taxes such as PAYE/NIC deductions, and VAT), as announced by Philip Hammond in the budget would appear to be a backwards step for UK insolvency law.

The PDF server is offline. Please try after sometime.
"We unhesitatingly reject the argument that debts owed to the community ought to be paid in priority to debts owed to private creditors. A bad debt owed to the State is likely to be insignificant in terms of total Government receipts; loss of a similar sum by a private creditor may cause substantial hardship, and bring further insolvencies in its train."  Cork Report (1982)

Key Contacts

We bring together lawyers of the highest calibre with the technical knowledge, industry experience and regional know-how to provide the incisive advice our clients need.

Keep up to date

Sign up to receive the latest legal developments, insights and news from Ashurst.  By signing up, you agree to receive commercial messages from us.  You may unsubscribe at any time.

Sign up

The information provided is not intended to be a comprehensive review of all developments in the law and practice, or to cover all aspects of those referred to.
Readers should take legal advice before applying it to specific issues or transactions.

Get Started

        Forgot Password - Ashurst Account

        If you have forgotten your password, you can request a new one here.


        Forgot password? Please contact your relationship manager to find out more about our client portal.
        Ashurst Loader