Back in the Autumn Budget of 2018 the government announced its intention to reinstate the preferential status of HMRC. It estimated that this would raise £180m for the Exchequer. Over the last two years the Insolvency profession has been lobbying the government to reconsider. Regretfully these protests have been ignored. The Finance Bill 2020 received Royal Assent […]
On 25 June 2020 the Bill received royal assent and became the Corporate Insolvency and Governance Act 2020. The Act has introduced new corporate restructuring tools to help maximise the chances of business survival and provide a breathing space whilst a plan is presented to creditors. The first new tool introduced is a Moratorium, giving directors time[…]
