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HMRC applied to shut down 4,160 businesses because they had fallen behind on their tax payments in 2018 with financial problems being exacerbated by a late payment culture.

Based on analysis of HMRC’s winding up petitions by Funding Options, the tax authority is still being too aggressive in its approach to shutting down businesses, particularly given the tough trading conditions caused by Brexit uncertainty and slowing global economic growth.

Read full article at Accountancy Daily.