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Insolvency Act 1986
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- UK Public General Acts
- 1986 c. 45
- Part XII
- Section 386
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Changes over time for: Section 386
Version Superseded: 15/09/2003
Alternative versions:
- 01/02/1991- Amendment
- 01/06/1993- Amendment
- 01/12/1993- Amendment
- 07/02/1994- Amendment
- 03/05/1994- Amendment
- 01/05/1995- Amendment
- 29/04/1996- Amendment
- 28/07/2000- Amendment
- 11/05/2001- Amendment
- 11/05/2001
Point in time - 15/09/2003- Amendment
- 31/12/2014- Amendment
- 01/01/2015- Amendment
- 26/03/2015- Amendment
- 01/12/2020- Amendment
- 08/07/2021- Amendment
- 04/01/2024- Amendment
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Insolvency Act 1986, Section 386 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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386 Categories of preferential debts. E+W+S
(1)A reference in this Act to the preferential debts of a company or an individual is to the debts listed in Schedule 6 to this Act (money owed to the Inland Revenue for income tax deducted at source; VAT, [F1insurance premium tax,][F2landfill tax,][F3climate change levy,][F4aggregates levy,]car tax, betting and gaming duties [F5,beer duty][F6, lottery duty][F7, air passenger duty]; social security and pension scheme contributions; remuneration etc. of employees [F8;levies on coal and steel production]); and references to preferential creditors are to be read accordingly.
(2)In that Schedule “the debtor” means the company or the individual concerned.
(3)Schedule 6 is to be read with [F9Schedule 4 to the Pension Schemes Act 1993](occupational pension scheme contributions).
Textual Amendments
F1Words in s. 386(1) inserted (3.5.1994) by 1994 c. 9, s. 64, Sch. 7 Pt. III para. 7(2)
F2Words in s. 386(1) inserted (29.4.1996) by 1996 c. 8, s. 60, Sch. 5 Pt. III para. 12(1)
F3Words in s. 386(1) inserted (28.7.2000) by 2000 c. 17, s. 30, Sch. 7 para. 3(1)(a)
F4Words in s. 386(1) inserted (11.5.2001) by 2001 c. 9, s. 27, Sch. 5 para. 17(1)(a)
F5Words in s. 386(1) inserted (1.6.1993) by Finance Act 1991 (c. 31), s. 7, Sch. 2, para. 21A (as inserted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 9(2)); S.I. 1993/1152, art. 3(2), Sch. 1 Pt. II
F6Words in s. 386(1) inserted (1.12.1993) by 1993 c. 34 (1.12.1993), s. 36(1) (with art. 40(2)(3)); S.I. 1993/2842, art. 3(1)
F8Words inserted by S.I. 1987/2093, reg. 2(1)(3)
F9Words in s. 386(3) substituted (7.2.1994) by 1993 c. 48, s. 190, Sch. 8 para. 18 (with s. 6(8)); S.I. 1994/86, art. 2
Modifications etc. (not altering text)
C1S.386 applied with modifications by S.I. 1986/1999, art. 3, Sch. 1 Pt. II
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