Who Pays the Debt?
Patrick Cannon has recently written an article for Taxation Magazine on how HMRC is attempting to recover unpaid PAYE and National Insurance, in relation to employee benefit trusts (EBTs) from the directors of insolvent companies.
The article, titled “Who Pays the Debt?”, was published on the 14th November 2019. You can read the full article here.
What’s Featured in the Article?
Recently, HMRC have increased their focus on proving debts in the liquidation of insolvent companies, in relation to EBTs. As a result, liquidators are pursuing the directors of these insolvent companies for monies paid into such trusts.
Patrick’s article analyses two recent Insolvency and Companies Court cases which have reached contradictory conclusions regarding this issue.
The article outlines the two cases, and discusses factors which contributed to the major differences in the conclusions of both of these cases.
You can find Patrick’s other articles featured in Taxation Magazine here.