Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

Return to feudalism? UK tax authority seeks feedback on preferential status plans

By Kyriaki Karadelis

01 March 2019

Return to feudalism? UK tax authority seeks feedback on preferential status plans King John signing the Magna Carta / iStock.com/duncan1890

The UK tax authority is inviting comments on its plans to become a secondary preferential creditor in insolvencies, as lawyers and insolvency practitioners called the proposals a return to “feudal times” and a “cash grab” that could impact the already ailing retail sector at a time of Brexit uncertainty.