To ask Her Majesty's Government what plans they have to review the impact of the extension of secondary preferential creditor on levels of (1) business insolvencies, (2) job losses, and (3) the value of economic growth and taxes foregone, in 12 months’ time.
8 February 2021
The Government undertook careful work to assess the impact of the measures ahead of announcement and implementation. As with all tax policy changes, the Government published this assessment in a tax information and impact note which can be found on GOV.UK.
The policy will be monitored through continuing communications with affected taxpayer groups and insolvency practitioners.