HMRC collections

HMRC collects extra £14.4m in tax from preferential creditor status

19th July 2024 Commercial Collections and Recoveries | #HMRC collections

New analysis by Forvis Mazars has found that the HMRC has collected an extra £14.4 million in tax from insolvencies since it regained its ‘preferential creditor’ status in insolvencies. HMRC was given ‘Crown Preference’ priority in insolvencies in December 2020. That preferred status allows it to reclaim tax owed from an insolvent business ahead of any…

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HMRC collections

HMRC collects extra £14.4m in tax from preferential creditor status

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