Taxman raises stakes on winding up orders

The number of winding petitions issued by the taxman has jumped substantially.  HMRC issued 58% of all petitions in the last year, compared to 43% in the previous year, according to research by UHY Hacker Young, (reported in Accountancy Age).

Approximately 6,400 companies faced winding-up attempts by the taxman, compared to 5,600 a year earlier.  HMRC seems to be toughening its approach to businesses struggling with their tax bills.  Recently HMRC revealed that their rejections for applications for tax deferral under the Time to Pay regime had doubled.  HMRC were quoted:  “There is little HMRC can do for a business whose viability is dependent on not paying the UK taxes to which they are liable”.

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