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INSOLVENCY PROCEEDINGS: WHAT YOUR CLIENT NEEDS TO KNOW
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£110+VAT. (click here for information on the Flexiticket discount scheme - fees as low as £61.67+VAT per place).
Understanding the different types of insolvency proceedings and their tax implications in order to be able to advise businesses facing insolvency.
WHO SHOULD ATTEND?
Business and tax advisors wishing to assist their clients in the challenging times of the economic crisis caused by the Coronavirus.
The talk covers each of the types of insolvency proceedings; CVA's (company voluntary arrangements), Receivership, Administration and Liquidation, explaining how they work, before covering their tax implications:
- The impact for the group (as a result of the company losing beneficial ownership of its subsidiaries). This covers not only group relief from corporation tax, but also corporation tax on chargeable gains on transfers of assets within the group, with potential exit charges, and SDLT and VAT on transfers of property within the group
- The impact for the shareholders of the company in insolvency. This covers the tax treatment of winding-up distributions and of distributions in specie, including land (CGT, SDLT and VAT implications), Entrepreneur's relief from CGT and relief for worthless shares (CGT negligible value claim)
- Cessation of trade and transfer of trade. This covers capital allowances (disposal event), terminal loss relief and carry-forward of losses on transfer of the trade