{"id":1782,"date":"2017-03-27T13:31:51","date_gmt":"2017-03-27T13:31:51","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=1782"},"modified":"2017-03-27T13:31:51","modified_gmt":"2017-03-27T13:31:51","slug":"12-per-cent-rise-winding-applications-recover-unpaid-tax","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/12-per-cent-rise-winding-applications-recover-unpaid-tax\/","title":{"rendered":"12 per cent rise in winding-up applications to recover unpaid tax"},"content":{"rendered":"<p>A new study suggests that the number of winding-up applications issued by HM Revenue &amp; Customs (HMRC) to small and medium-sized enterprises (SMEs) is on the rise.<!--more--><\/p>\n<p>According to business financier Funding Options, 3,906 such applications were issued to SMEs in 2016 in a bid to recover unpaid tax, up from 3,405 one year previous and representative of a 12 per cent rise.<\/p>\n<p>Their research found that HMRC successfully obtained 2,065 winding-up orders in total, up from just 1,944 in 2015.<\/p>\n<p>Mr Conrad Ford, CEO of Funding Options, said that the study illustrated exactly how far the tax authority is willing to go in order to recover unpaid tax.<\/p>\n<p>He said: \u201cShutting a company down is the biggest weapon in HMRC\u2019s arsenal, but it\u2019s one the taxman is using more and more.<\/p>\n<p>\u201cIn these extreme circumstances, companies may have some difficult choices to make between paying employees or suppliers and paying their tax bill.<\/p>\n<p>He added: \u201cIt\u2019s vital that businesses don\u2019t stick their heads in the sand: SMEs need to try to work with HMRC to prevent arrears backing up. They should also take pro-active steps to make sure they have a funding safety net readily available for when they need it\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new study suggests that the number of winding-up applications issued by HM Revenue &amp; Customs (HMRC) to small and medium-sized enterprises (SMEs) is on the rise.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1782"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1782"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1782\/revisions"}],"predecessor-version":[{"id":1783,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1782\/revisions\/1783"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}