HMRC publish guidance on implications of ‘phoenixism’

Released 07 October 2021

HMRC have published guidance covering joint and several liability notices for repeated insolvency and non-payment cases – often referred to as ‘phoenixism’.

The guidance explains what HMRC will do when an individual has been connected with companies that have become insolvent with outstanding amounts owed to HMRC.

‘Repeated insolvency and non-payment’ means the practice of a company running up tax liabilities and avoiding paying them by making the company insolvent. Then, a new company is set up which carries on the same or a similar business.

View Joint and several liability notices for repeated insolvency and non-payment cases.

View Joint and several liability notices for tax avoidance and tax evasion cases.

View Overview of joint and several liability notices for tax avoidance, tax evasion and repeated insolvency.

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