As many readers will be aware, on 6 April 2016 the anti-avoidance Transactions In Securities (TIS) rules were enacted as part of the Finance Act 2016 specifically to target phoenix companies. Under the new TIS rules, certain distributions made to shareholders are treated as income rather than capital. The rules apply where the main purpose […]
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We continue to live in an increasingly uncertain world, Brexit, Trump and DH pharmacy funding cuts. Since the original announcement by the DH on 17 December 2015 it has been an uncertain time for pharmacy owners and operators as to firstly whether the funding cuts would come in, secondly the amount of the cuts and […]
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Whilst HMRC has had the power to issue a notice requiring a business to give security for some time (since 1994 for VAT and 2012 for PAYE/NI), they have not in our experience been commonplace despite HMRC being a creditor usually for a substantial amount. In the recent past, however, we have seen two instances […]
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I think it’s fair to say that some of us may be a little tired of Brexit continuing to dominate the headlines for a variety of reasons. However, the impact on certain sectors potentially as a result of the decision to leave the EU may have started to become apparent. According to a survey recently […]
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