HMRC. Insolvency Guidance (UPDATE) – Recording tax and national insurance – dividend payments to former employees of an insolvent entity (24 September 2021)

On 9 June 2021, HMRC issued an Insolvency Bulletin on the subject of ‘Recording Tax and NI – Preferential Dividends’. This bulletin prompted some questions and feedback from IP’s so HMRC updated the guidance and included a Q&A section which they hope will assist IPs.

The bulletin also refers to another bulletin issued by HMRC on 9 June 2021 ‘Introduction of electronic banking for Insolvency Practitioners making dividend payments’. This bulletin has not been updated, however, it can be found here for ease of reference.