The (the Bill) was given its first reading on Wednesday 20 May 2020. Parliament will not be considering the next stages of the Bill until 3 June 2020 so there is still some time, and possibly further amendments, before this is approved and given Royal Assent. More detailed notes will be provided once this Bill has been given Royal Assent, but the headline points of the current draft are:

Statutory demands

As part of the legislative changes brought about by the Finance Act 2020, the Treasury drafted the Insolvency Act 1986 (HMRC Debts: Priority on Insolvency) Regulations 2020 (the Regulations) and laid these before parliament on 14 September 2020. View a copy of the regulations.

The Corporate Insolvency and Governance Act 2020 (the Act) received royal assent on 25 June 2020 and is now in force.