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Tax Implications of Insolvencies

Elizabeth Bradley, Assistant Solicitor in the Corporate Tax Group of Berwin Leighton Paisner, provides an overview of some of the direct tax implications that arise within the context of insolvencies

 
Elizabeth Bradley Assistant Solicitor in the Corporate Tax Group of Berwin Leighton Paisner provides an overview of some of the direct tax implications that arise within the context of insolvencies
 
This article seeks to provide a basic overview of the principal direct tax implications of insolvencies within the United Kingdom. I shall look at four main areas:
 
●     a brief summary of the legal terminology in the context of insolvencies;
 
●     the tax implications of putting a company into liquidation;
 
●     the tax implications for the company during the liquidation process; and

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