With the Finance Act having now gained Royal Assent, the threat of HM Revenue & Customs ranking higher in any insolvency process has now become a reality. The impact is likely to send shockwaves through the lending community, especially for lenders who traditionally rely on either qualifying floating charges or personal guarantees to bolster their security. And for those alternative lenders who rely on personal assets of the directors, will HMRC’s new power to issue Joint Liability Notices to directors personally affect their appetite to lend?
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