| Introduction |
| Direct Taxes |
| Indirect Taxes |
The unsecured creditors scheduled in Part III Schedule 6 IA1986
have preferential rights.
Preferential creditors are entitled to receive payment before
the non-preferential creditors, who can only receive a dividend
payment after the preferential creditors have received full payment
of their claims (100 pence in the pound).
Direct Taxes was a preferential creditor in accordance with
Categories 1 and 3 of Schedule 6 for the types of tax shown below.
VAS will also submit the claim on behalf of Indirect Taxes for VAT.
Crown preferential status for taxes was repealed with effect from
15 September 2003.
Direct Taxes
NIC Class 4
Select one year of NIC Class 4, normally the year with the
greatest amount outstanding, except for the tax year in which the
VA was approved.
PAYE & NIC class 1
This was classed as preferential if it fell during the 12
months immediately preceding the VA date (in company or partnership
cases) or the date of the interim order (in individual cases).
NIC Class 1A
This is not classed as a preferential debt.
NIC Class 2
This was preferential in the same way as NIC Class 1. Details
of the claim will be provided by NICO.
Regulation 49 Determinations
Regulation 80 (formerly 49) determinations (made to recover
PAYE from an employer when the PAYE scheme has not been correctly
operated or a form P35 has not been received) were preferential in
the same way as PAYE. (Before 1992-93 these were known as
Regulation 29 determinations.)
Indirect Taxes
VAT
The preferential element of the C&E claim was set out in
Category 2 of Schedule 6 and related to VAT outstanding which fell
during the six months immediately preceding
