Andy Tall provides practical reminders of the tax considerations when closing down a company.
With the COVID-19 lockdown having prevented many businesses from trading and the economy likely to suffer for some time, many companies are facing financial hardship.
This article is a reminder of some of the corporation tax issues for a company in formal proceedings and considerations whenever a company is potentially insolvent. It also covers matters to take into account when shutting down a solvent company and ends with pointers when acquiring the business of a distressed company.
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