It was widely expected that in the recent Budget the Chancellor would either remove or restrict further the reliefs available under the Capital Gains Tax (“CGT”) regime in relation to Business Asset Disposal Relief (formerly Entrepreneur’s Relief). However CGT...
BackgroundAs we enter a period of further uncertainty, with many companies having geared up with government backed funding, there is every expectation that there will be an increase in managements seeking to use the Administration process to rid the business of debt,...
FCA WINS SUPREME COURT APPEAL BY INSURERS COMPANIES NEED TO SURVIVE TO BENEFIT ORIENT EXPRESS OVERTURNED The Background The UK is currently in its third national lockdown and there are thousands of businesses looking to their Business Interruption Insurance...
ACT NOW NOT NEXT APRIL The UK has been subject to national and local lockdowns since 23 March 2020, and the government has put in place a number of temporary measures to support businesses in these unprecedented times. Many of these provisions have now been...
REMINDER The government’s new lockdown lasts until 2 December with Crown Preference returning on 1 December. Although these two factors are not linked, it should be highlighted that businesses in distress will potentially have fewer insolvency options to ensure the...
HMRC TO BECOME PREFERENTIAL CREDITORS AGAIN HMRC’s status as a preferential creditor was abolished in 2003 with the introduction of the Enterprise Act 2002. In its October 2018 budget the government made the surprise announcement that HMRC will become a...
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