Cookies on Pinsent Masons website

This website uses cookies to allow us to see how the site is used. The cookies cannot identify you. If you continue to use this site we will assume that you are happy with this

If you want to use the sites without cookies or would like to know more, you can do that here.

Allowing HMRC to take money from bank accounts of tax debtors could see it "treated as preferential creditor", accountants warn

Proposals announced as part of this year's Budget that would allow HM Revenue and Customs (HMRC) to take money directly from the bank accounts of tax debtors could undermine existing insolvency laws by effectively allowing the department to be treated as a... 11 Apr 2014

Proposed 'common principles' for EU insolvencies reflect UK's current, "more flexible" approach, says expert

The European Commission's new 'common principles' for national insolvency regimes place more of an emphasis on giving viable firms the opportunity to restructure at an early stage and so stay in business, reflecting the UK's current "rescue culture", an expert... 14 Mar 2014

Out-Law Guides

  • Insolvency procedures

    This guide is based on UK law as at 1st February 2010, unless otherwise stated. It is part of a series on Financial difficulty and insolvency . The following is a brief summary of insolvency...

  • Financial difficulty and insolvency: Other considerations

    This guide is based on UK law as at 1st February 2010, unless otherwise stated. It is part of a series on  Financial difficulty and insolvency . Other guides in this series address minimising the...

  • Wrongful trading FAQ

    This guide is based on UK law as at 1st February 2010, unless otherwise stated. It is part of a series on Financial difficulty and insolvency . Resigning will not, by itself, remove liability. In...

  • Personal liabilities for financial difficulties and insolvency

    This guide is based on UK law as at 1st February 2010, unless otherwise stated. It is part of a series on Financial difficulty and insolvency . In cases of insolvent liquidation, a director or shad...

  • Financial difficulty and insolvency: An introduction

    This guide is based on UK law as at 1st February 2010, unless otherwise stated. It is part of a series on Financial difficulty and insolvency . This guide looks at the legal position of directors...

Join My Out-Law

  • See only the content that matters to you
  • Tailor Out-Law to your exact needs
  • Save the most useful content for later reading
  • Tailor our weekly eNewsletter to your interests

Join My Out-Law

Already signed up to My Out-Law? Sign in