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HMRC have published ‘Tax abuse and insolvency: A discussion document – summary of responses’ confirming that legislation will be introduced to protect against loss of revenue for HMRC in insolvency cases.

The consultation ‘Tax abuse and insolvency: A discussion document’ sought comments on the transfer of liabilities to directors and other responsible persons, or the alternative proposal to make them jointly and severally liable in cases of tax avoidance or evasion through insolvency.

Respondents’ comments included:

HMRC have confirmed:

Following the consultation and announcements, the chancellor announced at Budget 2018:

Links

Tax abuse and insolvency: a consultation

TAAR: distributions on a winding up (anti-phoenixing rules)

External link

Tax abuse and insolvency: A discussion document – summary of responses