HMRC debt help hiding corporate insolvencies, claims expert
The help in deferring tax payments given to businesses by HM Revenue & Customs (HMRC) could actually be hiding the true extent of corporate insolvencies, according to MCR Tax Arrears Solutions.
Steve Clancy, partner at MCR, points out that HMRC is now "acting more like a lender of last resort than a tax collector", and is likely to start calling in its debts. This could mean a sharp increase in the level of company insolvencies.
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http://www.mcr.uk.com/has-hmrc-become-the-uk-s-largest-bank.html
