Company directors considering an insolvency process need to be aware of recently introduced legislation, contained within the Finance Act 2020. The new law has been designed to combat the use of insolvency as a means of avoiding tax liabilities.
The Government is working on new legislation to try and stop company Directors using dissolution through strike off as a means of avoiding repayment of liabilities – notably government-backed funding, such as CBILS or Bounce Back Loans. The new law which has had its first reading in Parliament, looks set to become law later this […]