54% of IPs see HMRC as ‘unhelpful’
In a recent survey of 350 insolvency practitioners (IPs) undertaken by the insolvency trade body, R3, more than 50% are of the opinion that HMRC makes it more difficult to rescue businesses than wind them up.
71% of IPs believe that HMRC has made the insolvency process harder to manage over the past few years, with just 10% believing that the taxman was ‘helpful’ when it comes to business rescue.
HMRC itself estimates that it loses up to £4bn a year as a result of insolvent businesses and individuals being unable to pay tax bills, some 10% of the total ‘tax gap’. R3 claims that “the better the government gets at working with the insolvency profession when taxpayers’ become insolvent the more chance it has of shrinking the tax gap.”
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