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Tag Archives: crown preference

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crown preference

Lenders Fear Cuts as Crown Preference Comes into Effect

Due DiligenceBy SulemanBaigDecember 3, 2020

Crown Preference has officially been implemented as of 1st December causing lenders to fear the aftermath. Crown Preference, a process where taxes collected by bust companies on behalf of third parties such as VAT, national insurance and employee PAYE must be paid off before any funds can be given to banks that had provided loans…

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