HomeFWJ TakeawayCompany rescueBusiness recovery and rescueWinding up petitions and the HMRC minimum debt threshold

A winding up order for non payment of taxes can be frightening. But there are always things which can be done - negotiated settlements, company restructuring, disputing the claim, seeking business funding or applying for a validation order as just some of the choices. Let our experts help.

The threshold currently for winding up petitions including HMRC winding up petitions is £750. This has not changed for many years.

Therefore,

  • if there is an undisputed debt over £750, then a winding up petition can be issued;
  • however, it is unusual for HMRC to issue winding up petitions for such small amounts and it is more normal for a creditor to issue a petition for a smaller amount.

However, HMRC can issue winding up petitions for any debts over £750 and therefore, if you face this issue, then you need to take urgent legal advice as irrespective of the petition amount, if a winding up order is then made and the company placed into liquidation, the same drastic effects can happen.

It should however be easier to pay off a smaller winding up petition amount than a larger petition debt but even so, it is important to take proper legal advice to avoid the other consequences of the existence of a winding up petition coming to light.

At Francis Wilks & Jones we have the winding up order and tax experts to help you with this process.


If you have a winding petition question involving HRMC we are the firm to help. We provide quick, cost effective and commercial advice. With over 75 years of combined experience and thousands of winding up petitions under our belt, we are the country’s genuine experts when it comes to winding up orders and the HMRC. Call now us now to speak to one of our friendly advisers.

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