- Unpicking the Finance Bill 2015—the new ‘corporate rescue’ tax relief
- What changes does the Finance Bill 2015 make for companies in financial distress?
- What does ‘financial distress’ mean and what evidence must be provided to benefit from the tax relief?
- When are the changes effective?
- How will the changes impact corporate restructurings?
- What other provisions of the Finance Bill 2015 should restructuring and insolvency lawyers be aware of?
Restructuring & Insolvency analysis: When a company is in financial distress, it needs to act quickly and one factor in determining which restructuring route to pursue may be the relevant tax treatment of the deal. By extending the cases where tax relief is available, the government hopes to promote a greater range of options. Lara Okukenu, senior tax manager at Deloitte, explains the changes put forward.
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