Tax first charge on property: tax, interest and penalties take priority over other claims, subject to insolvency law. Section 82 provides that any amount payable by a taxable person or any other person on account of tax, interest or penalty shall be a first charge on the ... Summary
Tax first charge on property: tax, interest and penalties take priority over other claims, subject to insolvency law.
Section 82 provides that any amount payable by a taxable person or any other person on account of tax, interest or penalty shall be a first charge on the property of such taxable person or such person, notwithstanding anything to the contrary contained in any law for the time being in force, save as otherwise provided in the insolvency law.
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