HMRC have introduced new processes to streamline the way HMRC deal with insolvency in relation to the Economic Crime Levy.
HMRC have introduced an online form which must be used to:
- submit Economic Crime Levy returns
- cancel a registration for the Economic Crime Levy
Action to take
- Review the newly created section 28 of the Insolvency Practitioner’s handbook
- Read the linked guidance about what to do when an entity liable for the Economic Crime Levy has become insolvent
- Complete the form ensuring that the details used are correct to enable HMRC to process the query as quickly as possible
Information required to complete the form
- Name of the organisation or individual
- Business address
- Economic Crime Levy registration number
- Type of insolvency
- Date when the business became subject to the insolvency procedure
- Deregistration date
What happens next
Once the form has been submitted you will receive a reference number and an email confirmation.
HMRC should deal with the form within 28 working days. They will contact you if they require further information.