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Notes from a Sinking Island

 
Philip Ridgway of Temple Tax Chambers describes the all-encompassing role of the insolvency practitioner and some of the tax issues they are facing
 
In October 2007 I wrote an article in The Tax Journal which began with the words: 'With the current turmoil in the financial markets there are all manner of predictions as to when the next recession will hit the UK ranging from tomorrow (a favourite amongst insolvency professionals) to never (a prediction much favoured by those in Government)'. Unfortunately only 18 months later it transpires that the practical experience of those on the coalface proved all too correct and the naive hopes of those in Government have left the country dealing with a crisis unprecedented in the living memory of most. We have truly got away from the...

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