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Practice notes
One of the initial signs of distress is usually a covenant breach by the company. The lenders may agree to a simple waiver, which cures a temporary...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content is affected by the coronavirus (COVID-19) pandemic. For further details, take a look at our Coronavirus (COVID-19)...
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9th Nov
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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9th Nov
Practice notes
This Practice Note looks at:•the key features of loan to value (LTV) covenants•possible issues with calling an event of default based on a LTV...
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Produced in partnership with Alexander Pelopidas, James Walton and Matthew Brew of Rosling King LLP 12th Jan
Practice notes
This Practice Note looks at equitable accounting, what it is, how and when it applies. It does not look at how the trustee in bankruptcy (trustee)...
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9th Nov
Practice notes
This Practice Note covers receivers who are appointed by the court, including the circumstances in which a court will appoint a receiver and who may...
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Produced in partnership with John Hughes of Shakespeare Martineau LLP 12th Jan
Practice notes
It is possible for a claim to be brought under section 423 of the Insolvency Act 1986 (IA 1986) against a company or individual following a...
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9th Nov
Practice notes
A demand for payment is a formal demand made in accordance with the contractual requirements underpinning the liability which the party issuing the...
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Produced in partnership with James Hannant of Guildhall Chambers 12th Jan
Precedents
Court Reference No: [INSERT COURT REF. NUMBER][IN THE HIGH COURT OF JUSTICEBUSINESS AND PROPERTY COURTS [OF ENGLAND AND WALES OR IN [INSERT...
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9th Nov
Practice notes
The purpose of section 216 of the Insolvency Act 1986Section 216 of the Insolvency Act 1986 (IA 1986) is aimed at preventing phoenix companies from...
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9th Nov
Practice notes
IntroductionSet-off refers to claims that may be set-off against other claims. A set-off is the right of one party, Party A, who is owed money by...
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Produced in partnership with South Square and BDO LLP 12th Jan
Practice notes
DIP financing generallyDebtor-in-possession financing (DIP financing) is new, post-petition financing provided to a debtor in a bankruptcy case. The...
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Produced in partnership with Liz Downing of Skadden Arps Slate Meagher & Flom LLP 12th Jan
Practice notes
What is a misfeasance claim under section 212 of the Insolvency Act 1986?Claims commenced under section 212 of the Insolvency Act 1986 (IA 1986) are...
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9th Nov
Practice notes
This Practice Note looks at independent business reviews (IBRs) and aims to:•provide high level guidance around an IBR•identify when an IBR may be...
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Produced in partnership with Allan Kelly of RSM 12th Jan
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
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Produced in partnership with South Square and BDO LLP 12th Jan
Practice notes
Coronavirus (COVID-19)This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and...
Read More >
9th Nov

Most recent Tax content

Practice notes
The official receiver (OR) deals with the administration and investigation of all bankruptcies and compulsory liquidations, including partnerships (ie...
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Produced in partnership with Christopher Buckley of Radcliffe Chambers 9th Apr
Practice notes
FORTHCOMING CHANGES relating to insolvency and tax: Finance Act 2020 introduces provisions where:•HMRC becomes a secondary preferential unsecured...
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Produced in partnership with John Baldry of Temple Tax Chambers 9th Apr
Practice notes
Taxation and insolvencyThere are relatively few specific rules governing the UK taxation of companies that are subject to insolvency procedures. The...
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Produced in partnership with David L. Irvine, Nathan Langford of Kirkland & Ellis International LLP and Philip Ridgway of Temple Tax Chambers 9th Apr
Practice notes
This Practice Note is about the tax implications of liquidation demergers, also known as section 110 demergers, after section 110 of the Insolvency...
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9th Apr
Practice notes
This Practice Note:•outlines the main UK tax provisions that apply where a fixed charge receiver sells assets owned by a company, and•answers the...
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Produced in partnership with Anthony Davis and Julia Fox of Deloitte LLP 9th Apr
Practice notes
This Practice Note outlines how a taxable person who has accounted for and paid VAT on a supply, but who is not paid the price for that supply, may...
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Produced in partnership with Etienne Wong of Old Square Tax Chambers 9th Apr
Practice notes
This Practice Note outlines the tax issues that should be considered when a company seeks to restructure its external debt obligations.Other Practice...
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Produced in partnership with Jenny Doak of Weil Gotshal & Manges LLP 9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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9th Apr
Practice notes
The Hiring Incentives to Restore Employment Act (the HIRE Act) include provisions that give the US Internal Revenue Service (the IRS) administrative...
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Produced in partnership with John Narducci (Partner) and Stephen C Lessard (Associate) of Orrick, Herrington & Sutcliffe LLP 9th Apr
Practice notes
A foundational principle of the loan relationships regime is that the profits and losses to be brought into account for corporation tax purposes on a...
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9th Apr
Practice notes
IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s...
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9th Apr
Practice notes
This Practice Note outlines:•the main corporation tax consequences when a UK incorporated company goes into an administration process in the UK,...
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Produced in partnership with Anthony Davis and Julia Fox of Deloitte LLP 9th Apr
Practice notes
This Practice Note outlines:•the main corporation tax consequences when a UK incorporated company enters into an insolvent liquidation process,...
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Produced in partnership with Julia Fox of Deloitte LLP and Anthony Davis 9th Apr
Practice notes
This Practice Note outlines the tax issues that are relevant where creditors seek to enforce their security over the assets of a company, or corporate...
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Produced in partnership with Jenny Doak of Weil Gotshal & Manges LLP 9th Apr
Practice notes
This tax 'tracker' tool displays the current status of both US FATCA and UK FATCA intergovernmental agreements (IGA).The tracker is split into five...
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9th Apr
Practice notes
The Finance Act 2020 (FA 2020) introduced measures enabling HMRC, in certain insolvency-related circumstances, to make:•directors, shadow directors...
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Produced in partnership with David L. Irvine and Nathan Langford of Kirkland & Ellis International LLP 6th Apr
Practice notes
This Practice Note outlines the main tax implications where a company implements a company voluntary arrangement (CVA) under Part I of the Insolvency...
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Produced in partnership with Anthony Davis and Julia Fox of Deloitte LLP 11th Mar
Practice notes
The economic climate can lead to instances of distressed debt portfolios changing hands. In such a climate, typically banks seek to reduce their...
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Produced in partnership with Jenny Doak of Weil Gotshal & Manges LLP 3rd Mar
Q&As
Since UK stamp duty applies to instruments of transfer (such as stock transfer forms) relating to stock or marketable securities (paragraph 1,...
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18th Feb

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