What impact does the General Election have on the proposed return of Crown preference?
The government announced its intention to reinstate HMRC as a secondary preferential creditor in the 2018 Autumn Budget. Following consultation on this policy, the draft Finance Bill 2019/2020 was published. It was then subject to further technical consultation.
Usually a policy is confirmed (or delayed or abandoned) in the Autumn Budget and if confirmed, will be included in the Finance Bill that is published shortly after the Budget. The legislation then proceeds through Parliament and…