HMRC gets tough (on Directors and Shareholders)

Directors' and Shareholders' personal liability for corporate taxes and penalties

Earlier this month, Frettens' resident insolvency guru, Malcolm Niekirk, gave one of his monthly Coffee Break Briefings on Directors’ and Shareholders’ liability for corporate taxes and penalties.

He holds these briefings monthly and they are attended by up to 100 Insolvency Practitioners and other insolvency lawyers.

In it, he discussed the following topics:

• Joint liability notices under schedule 13 of the Finance Act 2020.
• Personal liability for directors, shareholders and other participators in companies.
• The three 'flavours' of joint liability notices, which he informally categorised as for 'repeat offenders', 'slippery ones' and 'event geniuses'.

Download more information: Schedule 13 Risk Assessment for Insolvency Practitioners

Malcolm has put together a short 1-page Risk Assessment for Schedule 13 (&s100) Finance Act 2020, which was referenced in the briefing, that you can download here.  It's for Insolvency practitioners when first meeting directors of a distressed company.  It helps them see if the directors need to think about the risk of a joint liability notice from HMRC.

Watch the briefing

If you would like to view the recording of Decembers briefing on director and shareholder liability, click here.

Read the notes

You can download Malcolm's slides and notes from the briefing, click here.

Insolvency Law: Coffee Break Briefings

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We hope you found the briefing useful. If you are an insolvency practitioner who would like to discuss the content of this article, please do not hesitate to get in touch.