I apologise for the delay in keeping you waiting. I have had clients and travelling all afternoon.
If you still want a telephone call I’m happy to call you if you let me know when it’s convenient.
Meanwhile, I can tell you that HMRC are merciless and they will issue a winding up order if they claim that they are owed money, even if the likelihood is that they are going to get nothing out of it.
They are no longer treated as a preferential creditor but as an unsecured creditor along with all the other creditors.
The fact that one creditor may be issuing the winding up proceedings doesn’t put them first in the pecking order because if it did, then everybody would be queueing up to be first in line to put a company into liquidation because it would put them at the front of the queue.
So the creditor that is prepared to wait and the creditor that is really pushing for this are simply in the same queue and would be paid out from any realisation monies, in direct proportion to the amount they are owed.
HMRC will make an application to freeze the bank account if it thinks that the directors of the company are going to take money out and disappear with it or put it beyond the reach of creditors. It doesn’t give any of the creditors in this scenario preference over any of the others.
.Can I clarify anything else for you?
I’m happy to answer any specific points arising from this.