In 1091 an F4 tornado struck London, killing two people. The London Bridge was demolished along with 600 houses. So many people think that it can’t happen to them. The same goes for not paying HMRC.
Lots of directors hold back on HMRC payments and use the available money for cash-flow, HMRC are an unwilling lender and that is why they push as hard as they can for repayment.
So if directors have used HMRC as a bank then, assuming that cash-flow is still very tight, a Company Voluntary Arrangement would be better than getting a Winding up Petition served on their desk.
However, it may take a financial tornado to wake some directors up to the fact that instead of ignoring warnings from HMRC, they should act fast.
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