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West Midlands businesses warned to stay on top of taxes

By Staffordshire Newsletter  |  Posted: August 19, 2014

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ACCOUNTANTS are warning businesses to stay on top of their taxes following a rise in Government winding-up petitions.

A freedom of information request by finance provider LDF showed HMRC filed 4,147 winding-up petitions in the courts in the last year - an 11% increase on the previous year’s total of 3,733.

Nick Willis, president of the UK200Group of independent chartered accountants and lawyers, said: “Businesses in the West Midlands should take these figures as a warning that HMRC is taking a hard-line stance on those companies who do not pay up their tax bills on time as it comes under pressure from the Treasury to meet ambitious targets for tax collection.

A spokesman for HMRC said: “HMRC’s aim is not to wind up companies but to collect, as efficiently as we can, the debts that are due.”

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