Bailey Ahmad Business Recovery

+44 (0)20 8662 6070

info@baileyahmad.co.uk

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Menu
  • Home
  • Business recovery
    • Creditors' Voluntary Liquidation (CVL)
    • Members' Voluntary Liquidation (MVL)
    • Company Voluntary Arrangement (CVA)
    • Administration
    • Creditor notices
    • When is a business insolvent?
    • Glossary of useful terms
  • Help for individuals
    • Informal strategies & refinancing
    • Bankruptcy
    • Individual Voluntary Arrangement (IVA)
    • How do I know I am insolvent?
    • Glossary of useful terms
  • About us
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    • Client Testimonials
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Post Budget Concerns

Legislation will be introduced in 2015 to allow HMRC to recover tax and tax credit debts of £1,000 or more directly from taxpayer accounts. We are invited to take comfort that the exercise of this power will be subject to ‘rigorous safeguards’! Of more immediate concern to clients (who may have already spent savings achieved from historic tax schemes) is that legislation will be introduced in 2014 to enable HMRC to issue a ‘Notice to Pay’ to any taxpayer who is subject to an open enquiry, or when the matter is under appeal where HMRC are asserting that a tax advantage has arisen by the use of arrangements under the Disclosure of Tax Avoidance Schemes (DOTAS) rules.

The notice will require the taxpayer to pay the tax in dispute within 90 days. We may see a flurry of Voluntary Arrangements as clients require more time to convert fixed assets into cash. As always, we would be happy to advise clients who fall foul of this change in legislation.

If you or any of your clients have any concerns about the implications of these changes please call Paul Bailey or Tom Ahmad on 020 8662 6070.

Categories

  • Administration Information & Advice (10)
  • Bankruptcy Information & Advice (5)
  • Business Recovery (11)
  • Currency Information & Advice (1)
  • CVA (Company Voluntary Arrangement) (7)
  • CVL (Creditors' Voluntary Liquidation) (11)
  • Directors' Blog Posts (4)
  • Insolvency Information & Advice (23)
  • Liquidation Information & Advice (22)
  • Meet the referrer (10)
  • Miscellaneous Blogs (3)
  • MVL (Members Voluntary Liquidation) (5)
  • Personal Debt Information & Advice (2)
  • REINS Newsletter (1)
  • Team news and events (5)
  • Useful business recovery Case Studies (4)

Recent posts

  • UK economy – a false sense of security?
  • Bailey Ahmad Business Recovery celebrate 10 year anniversary
  • HMRC winding up petitions on the increase
  • Insolvency – It’s not all doom and gloom, there are positive outcomes
  • Members’ Voluntary Liquidations – Life after 6 April 2016

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All consultations are free of charge and without obligation

R3

Paul Bailey and Tommaso Ahmad are licensed insolvency practitioners in the UK and are regulated by the Institute of Chartered Accountants in England & Wales. We are also members of R3 - The Association of Business Recovery Professionals.

Contact Us

Help for business

  • Creditors’ Voluntary Liquidation (CVL)
  • Members’ Voluntary Liquidation (MVL)
  • Company Voluntary Arrangement (CVA)
  • Administration
  • Creditor notices
  • When is a business insolvent?
  • Glossary of useful terms

Help for individuals

  • Informal strategies & refinancing
  • Bankruptcy
  • Individual Voluntary Arrangement (IVA)
  • How do I know I am insolvent?
  • Glossary of useful terms

Useful links

  • Client login
  • Testimonials
  • Meet our referrers
  • Latest blog posts
  • Learn about us

Contact

tel: +44 (0)20 8662 6070
fax: +44 (0)20 8662 6071
info@baileyahmad.co.uk

257b Croydon Road
Beckenham
Kent
BR3 3PS

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