The following Tax practice note provides comprehensive and up to date legal information covering:
This Practice Note draws together content on the fiscal events throughout the tax year 2020-21 starting with the publication of draft provisions for Finance Bill 2020-21 on 21 July 2020 to the expected passage through parliament of the Finance Act 2021 (FA 2021).
For more information on the annual Budget and Finance Bill process, see Practice Note: The Budget and Finance Bill process.
For information on the Finance Bill 2021, detailing its progress through Parliament to Royal Assent and describing its key provisions, see: Tax—Finance Bill 2021 tracker.
The government published further draft legislation for Finance Bill 202
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This Practice Note discusses Term Loan B (TLB) facilities which frequently appear as a tranche of senior facilities in syndicated loans in leveraged financings. TLBs are an established feature in the US market and increasingly used in the European lending market for institutional investors.This
When restructuring is considered rather than formal insolvency proceedings (see Practice Note: Benefits of restructuring over formal proceedings) the company may want to ensure that relevant creditors quickly enter a standstill agreement to gain some breathing space to consider a restructuring
There are two kinds of burden:•the legal burden, and•the evidential burdenThe legal burdenA party has the legal (sometimes called ‘the persuasive’) burden where the onus is on that party to prove a fact or issue in a case to the required standard of proof.The legal burden is generally on the
Company directors are not, by virtue only of their office as director, automatically entitled under company law to remuneration for services as a director or to reimbursement of expenses incurred in rendering such services. Power to pay directors remuneration for their services will need to be
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