Once this CV19 crisis is over HMRC will be put under a lot of pressure to raise extra cash.
This will include looking at ways to generate cash from companies and the people who run them for pre-CV19 debts, they won’t simply roll over and ignore these debts even if the company has gone into liquidation or administration.
This means trawling all those companies in the retail, pub, hotel, restaurant sectors who go or have gone under, assessing whether they breached section 216 in that failed company, and then if they did, going to the directors and arguing they are personally liable for the HMRC debt.
Click here for my earlier blog about the importance of complying with the rules, and what you are liable for if you don’t.
9 April 2020