Anti-avoidance rules in force from 1 April 2016 mean that the proceeds of a liquidation might be charged to income tax at up to 38.1%, instead of to capital gains tax at only 10%. We strongly recommend that all insolvency practitioners ask HMRC for a clearance before distributing any of the assets of a company in liquidation.
If you are an insolvency practitioner, or if you work with insolvency practitioners, you will need to get to grips with these new rules as soon as possible.
We have studied the regulations in depth and had meetings with HMRC about them. Most importantly, we are experts in obtaining clearances so contact us now on 0116 208 1020 for more help and advice.
A phone call to talk about the new rules will cost you nothing and could save your clients a fortune!