http://www.legislation.gov.uk/uksi/2020/983/signature/made
The Insolvency Act 1986 (HMRC Debts: Priority on Insolvency) Regulations 2020
en
King's Printer of Acts of Parliament
2021-07-23
BANKRUPTCY
DEBT
EDUCATION
INCOME TAX
INSOLVENCY
SOCIAL SECURITY
The Finance Act 2020 amends the Insolvency Act 1986, the Bankruptcy (Scotland) Act 2016 and the Insolvency (Northern Ireland) Order 1989 to make provision for certain debts owed to Her Majesty’s Revenue and Customs to be included in a category of preferential debt (or, in Scotland, preferred debt) for insolvency purposes. The amounts are those in respect of value added tax or a relevant deduction. A deduction is a relevant deduction if certain conditions are met. One of those conditions is that the deduction is of a kind specified in regulations. These Regulations specify the deductions listed in regulation 2 for those purposes.
Michael TomlinsonRebecca HarrisTwo of the Commissioners for Her Majesty’s Treasury