It’s not necessarily the end of your business if it fails as there is always the opportunity to phoenix it means transferring the business without the debts of the insolvent company. This month’s Active Practice will go through any possible issues of Phoenixing and explain what the law would say about it.
It includes explanations about:
- Different tax rates
- The possible problems
- What the law says
- What kind of business does the law apply to?
- What is ‘close’?
- What is ‘close or similar’?
- What counts as ‘insolvent’?
- The motive for winding up
- Looking ahead of time
- Examples containing different businesses with different situations
If you would like to know anything more then please get in touch but, first of all, take a read of our latest Active Practice to find out more. You can download it here:
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