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Lockdown 3—tax implications of prolonged business interruption

Lockdown 3—tax implications of prolonged business interruption
Published on: 02 February 2021
Published by: LexisPSL
  • Lockdown 3—tax implications of prolonged business interruption
  • Has a trade ceased?
  • Has there been a ‘major change in the nature or conduct’ of a trade?
  • Has a business reduced to a ‘small or negligible’ amount?
  • Is a coronavirus-disrupted business still a ‘going concern’?
  • Conclusion

Article summary

Tax analysis: Catherine Hill, senior solicitor at Macfarlanes LLP, considers some of the tax consequences of successive lockdowns on business, including the impact on the use of losses, changing the nature of their trade and whether the business can continue to be classified as a going concern. or take a trial to read the full analysis.

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