HMRC has filed a winding-up petition against commercial real estate adviser Avison Young in response to an unpaid tax bill.
The action has been launched against several group companies, including Avison Young (UK), Avison Young Holdings, Avison Young Workplace, Avison Young Project Management and Avison Young Real Estate Finance.
A spokesperson for the property adviser confirmed that is in talks with HMRC over a “historical tax obligation” and fully expects the issue to be resolved shortly.
In its latest accounts for full-year 2024, the firm’s UK and European arm posted a pre-tax loss of £101.8m, mirroring a similar loss for 2023.
AY recorded a £84.6m operating loss in 2024 as its staff count continued to fall following the restructuring of several departments, resulting in it cutting its workspace by around 300 over a two-year period.
The company has 11 offices across the UK and a headcount of around 1,400. The UK firm grow significantly following Canadian-head quartered Avison Young’s purchase of GVA from Swedish private equity group EQT in 2019.
The news is the latest sign of distress in the wider property sector, with housebuilders especially under pressure from the economic downturn. Crest Nicholson is one of several firms to cut land buying activity in recent weeks, after shedding 50 jobs last November, while in 2025, JLL cut a number of jobs across its UK property and asset management arm.
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