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HMRC’s winding-up petitions on the rise

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The number of winding-up petitions filed by HMRC in order to cover businesses’ unpaid tax bills increased by 13% between 2014 and 2015, rising from 3,074 to 3,484.

‘Because of economic headwinds caused by Brexit,’ predicts Conrad Ford, CEO of Funding Options, an online alternative business finance matchmaker, ‘we may well see increasing numbers of winding-up petitions in the next few years’. Where SMEs are unable to pay their tax bills on time, warns Ford, ‘we have seen HMRC won’t wait around forever for the payment’.

Issue: 1320
Categories: News