HMRC updates Insolvency VAT Notice 700/56 and directs users to new handbook

HMRC says VAT Notice 700/56 is being replaced by the Insolvency practitioner's handbook. The notice also sets out PAYE steps for payments to employees during insolvency and explains EPA schemes.

HMRC states that VAT Notice 700 56 Insolvency is being replaced by the Insolvency practitioner's handbook. The notice signposts where to find guidance on types of insolvency, notifications, claims and returns.

It sets out how to declare and pay dividends to HMRC, including payment methods, account details and reference formats. It explains that later dividends must be based on the original claim figure at the relevant date.