Key facts
- Avison Young's UK bank accounts were frozen by NatWest Group over unpaid taxes.
- The brokerage owed His Majesty’s Revenue and Customs (HMRC) over £7.7M.
- Avison Young had entered into four payment plans with HMRC in the past two years.
- A judge ordered the accounts to be unfrozen, allowing Avison Young to pay its tax obligations.
- The company stated that all outstanding obligations to HMRC have been settled.
Avison Young's UK operations faced significant financial strain as its bank accounts were frozen by NatWest Group due to unpaid taxes. The brokerage had accumulated a tax debt exceeding £7.7 million (approximately $10.4 million) by the end of July, having previously entered into four 'time-to-pay' arrangements with His Majesty’s Revenue and Customs (HMRC) over the past two years.
During a court hearing, Avison Young's lawyers argued that the frozen accounts prevented the company from settling its debts. Judge Sebastian Prentis ordered NatWest to unfreeze the assets, acknowledging that the bank's action hindered Avison Young's ability to meet its tax obligations. A spokesperson for Avison Young confirmed that all outstanding obligations to HMRC have since been paid.
The company has been grappling with cash flow challenges since 2022, exacerbated by rising interest rates that reduced real estate deal volumes. Despite a pickup in European dealmaking in late 2025, the conflict in Iran reportedly slowed transactions in the first quarter of 2026. Avison Young has also faced other financial and legal difficulties, including a lawsuit from ICG over alleged negligent overvaluation of mobile home sites and significant losses in its UK and European businesses, leading to job cuts.
In the U.S., Avison Young's credit rating was impacted by its withholding of payments on a $325 million senior term loan, though the company restructured this debt. The firm has also engaged in various debt and equity financing activities, including raising senior debt on the bond market, which received a 'junk bond' rating from S&P Global.