INS10163 - Introduction to Voluntary Arrangements

Business Rescue and VAs

HMRC supports the Rescue Culture and VAs whenever this is consistent with their overall objectives of maximising yields and protecting the tax base.

The primary aim is to make recoveries through support of proposals.

The Departments' approach to the Rescue Culture is set out in more detail in the

• Press releases ( INS10101)
• Acceptance criteria helpsheet.

The important aspects to consider in an offer are

• There has been full and honest disclosure ( INS10165)
• A fair and optimum offer is made to creditors ( INS10167)
• Provision is made for payment of all future statutory liabilities on time ( INS10169)
• There are no over riding reasons for rejection ( INS10171)