Natasha Ayres

Introduction Today, the UK Supreme Court considered for the first time the existence, content and engagement of the so-called “creditor duty”: the alleged duty of a company’s directors to consider, or to act in accordance with, the interests of the company’s creditors when the company becomes insolvent, or when it approaches, or is at real ...

The Finance Act 2020 provides that directors, managers, shareholders, lenders and others can be made jointly and severally liable for the outstanding tax debts of insolvent (or potentially insolvent) companies and limited liability partnerships (LLPs). From 22 July, officers of HMRC may, if they consider the various conditions are met, issue a notice to directors

The post The Finance Act 2020: Provisions for Joint and Several Tax Liability for Directors, Managers, Shareholders and Lenders appeared first on Weil Tax BLOG.

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