Taxman jumps the insolvency queue

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. Which of the following best explains the term 'crown preference'?

  2. What happened when there was no crown preference?

  3. Which of these bodies or persons has more priority as a claimant than HMRC?

  4. Why might the partial regain of preferred creditor status for HMRC be a negative thing?

  5. What has been suggested as an alternative approach for HMRC to take instead of enforcing crown preference?

  6. Why is the timing of the move significant?

  7. Which of the following best explains why crown preference is likely to be supported by public opinion?

  8. What is the loan charges regime?

  9. Why did the House of Lords issue a damning verdict in its report on HMRC?

  10. What is a disguised remuneration scheme?