# Finance Act 2026, Paragraph 18

Extent: E+W+S+N.I.

(1) This paragraph applies where a registered person is subject to an insolvency procedure and a person (P) acts as an insolvency office holder in relation to that registered person.
(2) Where this paragraph applies, HMRC may treat P as if they were the registered person for the purposes of CBAM.
(3) Where P is treated under sub-paragraph (2) as if they were the registered person—
(a) any liability of the registered person to pay CBAM which arose at a time before the date on which the insolvency procedure began continues to be payable by the registered person;
(b) any liability of the registered person to pay CBAM which arises at a time on or after the date on which the insolvency procedure began is to be regarded as an expense of that procedure (unless the procedure is within sub-paragraph (4)(b)(vii)).
(4) In this paragraph—
(a) “insolvency office holder” means—
(i) an administrative receiver;
(ii) an administrator;
(iii) a liquidator;
(iv) a receiver appointed by the courts or by a mortgagee;
(v) a trustee in bankruptcy;
(vi) a trustee (or interim trustee) in the sequestration of an estate;
(vii) a person acting in an equivalent capacity under the law of a country or territory outside the United Kingdom;
(b) “insolvency procedure” means—
(i) administration;
(ii) administrative receivership;
(iii) bankruptcy;
(iv) receivership;
(v) sequestration;
(vi) winding up;
(vii) an equivalent procedure under the law of a country or territory outside the United Kingdom.

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Source: https://www.legislation.gov.uk/ukpga/2026/11/schedule/17/paragraph/18 (the official version)
Page: https://openlegislation.uk/finance-act-2026/schedule-17/paragraph-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.