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Tax in Insolvency

The speed of change in insolvency statute is matched by the speed of change in tax legislation. As IPs, we need to understand the tax regime of an industry, tax implications of continued trading and how we structure any sale of the business in a tax efficient manner. With HMRC active in recoveries, and with new collection processes at their disposal, we will look at when we can challenge claims from HMRC.

Description

The speed of change in insolvency statute is matched by the speed of change in tax legislation. As IPs, we need to understand the tax regime of an industry, tax implications of continued trading and how we structure any sale of the business in a tax efficient manner. With HMRC active in recoveries, and with new collection processes at their disposal, we will look at when we can challenge claims from HMRC.

In this course, we examine income tax and corporation tax, responsibility and ranking of capital gains tax, and dealing with an insolvent employer. We will also look at tax issues in MVLs and s110 arrangements.

CPD Learning Outcomes

  • What is tax: income tax; corporation tax and capital gains tax
  • Tax rates, exemptions and allowances for individuals and companies
  • Accounting periods and effect of insolvency in personal and corporate insolvency
  • The self-employed debtor: tax implications
  • Pre-appointment and post appointment liabilities
  • Effect of APNs and tribunal decisions
  • Claims from HMRC: actual, assessed and determined
  • Review of returns submitted and existence of DOTAS scheme reference numbers
  • Insolvent party as employer: know your responsibilities
  • IP responsibility to advise HMRC
  • Utilising loss reliefs and HMRC right of set off
  • MVL and s110 tax planning
  • Hot topics

Who Should Attend

This course is aimed at licensed Insolvency Practitioners and their staff throughout the UK looking for a comprehensive introduction or an update on tax issues in insolvency.

Cost

Half day course: £155 + VAT

50% discount for third delegate booking

What our clients say

"I liked the interactive and conversional aspect of the course"

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