98 HMRC debts: priority on insolvency
Finance Act 2020 (2020 c 14) | Legislation

Part 4 Miscellaneous and Final

Insolvency

98  HMRC debts: priority on insolvency

(1)     In section 386 of the Insolvency Act 1986 (preferential debts)—

(a)     in subsection (1) after “other deposits” insert “; certain HMRC debts”;

(b)     in subsection (1B) for “or 15BB” substitute “, 15BB or 15D”.

(2)     In Schedule 6 to that Act (preferential debts) after paragraph 15C insert—

“Category 9: Certain HMRC debts
15D

(1)     Any amount owed at the relevant date by the debtor to the Commissioners in respect of—

(a)     value added tax, or

(b)     a relevant deduction.

(2)     In sub-paragraph (1), the reference to “any amount” is subject to any regulations under section 99(1) of the Finance Act 2020.

(3)     For the purposes of sub-paragraph (1)(b) a deduction is “relevant” if—

(a)     the debtor is required, by virtue of an enactment, to make

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