Commentary

700/56/21 Insolvency

Part V8 HMRC Notices
Part V8 HMRC Notices | Commentary

700/56/21 Insolvency

Part V8 HMRC Notices | Commentary

700/56/21
Insolvency

March 2021

This notice cancels and replaces Notice 700/56 (July 2017).

1 Overview

Main narrative treatment—V5.187.

1.1 What this notice is about

This notice explains the:

  1.  

    •     basic principles of our treatment of insolvent businesses

  2.  

    •     procedures which insolvency practitioners are asked to follow when dealing with HMRC.

Although this notice details VAT procedures, it can be applied to cases where traders are involved in another indirect tax or duty administered by HMRC.

1.2 Who should read this notice

This notice is aimed at insolvency practitioners and official receivers (office holders) who are dealing with the business activities of VAT-registered traders.

1.3 Status of this notice

The reproduction of the VAT return (form VAT 100) and final VAT return (form VAT 193) in Annex A of this Notice have the force of law.

This Notice does not otherwise have the force of law, but it explains how we interpret the law on insolvency processes in relation to VAT.

1.4 More information and advice

If you have a case specific VAT enquiry concerning an insolvent case, for example, whether a pre-insolvency return has been provided, or whether set-off will apply in a particular circumstance, quote the VAT registration number and contact the appropriate insolvency team:

Bankruptcies/sequestrations, administrative receiverships and liquidations (including members voluntary liquidations)

For individual cases

Bankruptcies

Debt Management – EIS NCL

HM Revenue and Customs

BX9 1SR

insolvencyhelpdesk@hmrc.ov.uk

Telephone: 0300 322 9242

Opening times:

Monday to Thursday: 8:00am to 5pm Friday: 8:00am to 4:30pm

Trust deeds (Scotland)

Debt Management – EIS E

HM Revenue and Customs

BX9 1SD

Trust.Deeds@hmrc.gov.uk

Telephone helpline for trust deeds: 0300 200 3873

Monday to Thursday: 8:00am to 5pm Friday: 8:00am to 4:30pm

Scottish sequestrations

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