HMRC umbrella company ‘checking tool’ looms for workers
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The government should extend emergency Covid-19 insolvency measures or risk seeing a raft of company collapses and job losses later this year, the Institute of Directors (IoD) has warned.
Under normal circumstances, directors have a strict duty to cease trading if their company is facing insolvency and may face financial or legal liabilities if they seek finance instead of doing so. In June, the government introduced emergency coronavirus legislation to suspend the threat of liability for such 'wrongful trading'.
Read more at the Accountancy Daily.