Avison Young has confirmed it has received court authorisation to clear all outstanding obligations to HMRC.
Last week, HMRC filed a winding-up petition across multiple UK entities within the Avison Young group, including Avison Young Holdings Limited, Avison Young Workplace Limited, Avison Young (UK) Limited and Avison Young Project Management Limited, with Avison Young Real Estate Finance Limited also named.
A spokesperson for the company said: “Avison Young can confirm that we have now had authorisation from the court to clear all outstanding obligations to HMRC. The remaining steps to have the petition formally removed are purely administrative and are expected to conclude imminently.
“Prior to the legal action being taken, our finance team had been in regular dialogue with HMRC regarding the outstanding liability. We had initiated payment dates which we understood to be acceptable to HMRC and expected those discussions to continue. The decision to initiate legal proceedings therefore came as a surprise.
“Although HMRC initiated legal proceedings, it neither served the order nor disputed our application to have it set aside once payment had been made. The UK business performed in line with budget for H1, delivering positive year-on-year revenue and EBITDA growth. We are building on this momentum, pursuing growth across our service lines and remaining firmly focused on delivering high quality, differentiated service for our clients.”
