HMRC to be preferential Creditor

How are funds distributed among creditors in a restaurant insolvency ?

From 6 April 2020 HMRC will become preferential Creditor in UK insolvencies.

UK treasury has written an easy to read paper on this matter. Explaining the effects of this change and showing hierarchy of distribution of funds in insolvency.

It shows that unsecured creditors like suppliers usually recover 4% of their dues.

I think it’s a good move by the government to secure taxes for the public good.

Restaurant suppliers should make note and negotiate better credit terms.

Restaurants – Full Bookkeeping Package

Comprehensive accounting fee for restaurant

Details of our full bookkeeping package:

1 – Full bookkeeping service

2 – Payroll including tronc

3 – HR file maintenance

4 – Annual Accounts and company tax return.


Detail given below:


  • Sales Flash – to monitor sales of the restaurant.
  • Bank Flash – to monitor movement of funds in the bank account


  • Document collection from the restaurant.
  • Sales ledger reconciliation – card and cash.


  • Management accounts
  • Monitoring Gross profit ratio and Payroll cost.
  • Supplier management – Purchase ledger reconciliations and payment list.
  • Payroll including tronc


  • VAT Returns


  • Submission of Annual Accounts to Companies House; and
  • Company tax return to HMRC


Ongoing tasks

  • HR File maintenance
  • Staff training for better operation management
  • KPI analysis
  • Cash flow management
  • Liaison with HMRC and Banks, if required.
  • Internal control like monitoring Utility bill and Insurance costs.


Why choose us ?

Click here to see our client presentation – NHA – About us







Creating a Trial Balance in MS Access

A simple and quick way to create trial balance in MS-Access

Step 1 Create tables:

First table : tblNominals

NominalID AutoNumber Primary Key
NominalHeads    Text

Next table called tblTransactions

Transaction ID AutoNumber Primary Key
TransactionDate Date
DebitHead Text Lookup to Nominal table : NominalID
Credit Head Text Lookup to Nominal table : NominalID
Amount Currency


Create another table tblSign

Sign Number Primary Key

Enter only two entries in this table 1 and -1.

Step 2 Enter some transactions in tblTransactions


Step 3 Create a Query. This is the main bit – go slow

Query Design > Select all three tables created above plus add tblNominals once more, so you should have four tables in the query.

In first QBE grid Field

Nominal: IIf([Sign]=1,[1tblNominals].[NominalHead],[1tblNominals_1].[NominalHead])

In second QBE grid Field

Total: [Amount]*[Sign]

Also Total : Sum

Good luck !

PS – I am currently learning MS Access and this trial balance was made with the help of articles from Simon Hurst on accountingweb


Sample Ms Access file:
Simple Trial Balance


Update: 11/06/2020