Verfügbarkeit: The Tax Schedule

The Tax Schedule: A Guide to Warranties and Indemnities

The Tax Schedule explains the underlying rationale of the key provisions of the tax schedule, and provides updated model long-form and short-form warranties and tax indemnities. The purpose of the book is to explain and simplify issues for tax advisors involved in transactions of buying and selling...

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Bibliographische Detailangaben
1. Verfasser:	Gibson, Eile (VerfasserIn)
Format:	Elektronisch E-Book
Sprache:	English
Veröffentlicht:	London Spiramus Press 2023
Ausgabe:	4th ed
Online-Zugang:	DE-2070s
Zusammenfassung:	The Tax Schedule explains the underlying rationale of the key provisions of the tax schedule, and provides updated model long-form and short-form warranties and tax indemnities. The purpose of the book is to explain and simplify issues for tax advisors involved in transactions of buying and selling companies and business, enabling negotiations between tax advisors to keep sight of the commercial reality of the transaction (a sale by a willing seller to a willing buyer). The purpose of the tax schedule is to determine where responsibilities and risks will lie following the completion of the transaction, as well as to re-examine a number of so-called 'market practices'
Beschreibung:	Description based on publisher supplied metadata and other sources
Beschreibung:	1 Online-Ressource (578 Seiten)
ISBN:	9781913507305

Internformat

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245	1	0	\|a The Tax Schedule \|b A Guide to Warranties and Indemnities
250			\|a 4th ed
264		1	\|a London \|b Spiramus Press \|c 2023
264		4	\|c ©2023
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505	8		\|a Intro -- Preface to the fourth edition -- Preface to the first edition -- Acknowledgements -- Online resources -- Table of authorities -- Glossary -- 1 THE TRANSACTIONAL PROCESS -- 1.1 Background issues -- 1.2 Pre-completion clearances -- 1.2.1 CTA 2010, s.1091 - advance clearance relating to a demerger and exempt distribution under CTA 2010 s.1075 -- 1.2.2 TCGA s.138 - advance clearance for an exchange of securities for those in another company under TCGA s.135 -- 1.2.3 TCGA s.138 - advance clearance for a scheme of reconstruction involving issue of securities under TCGA s.136 -- 1.2.4 TCGA s.138 clearance - advance clearance for a reconstruction involving transfer of a business under TCGA s.139 -- 1.2.5 CTA 2009 s.831 - clearance for a transfer of business or trade involving intangible assets under CTA 2009 s.818 -- 1.2.6 FA 1986 s.75 (Acquisition relief for stamp duty) -- 1.2.7 FA 1986 s.77 (Stamp duty relief involving acquisition of target's share capital) -- 1.2.8 CTA 2010 s.748 and ITA s.701 advance clearance - cancellation of tax advantages from certain transactions in securities -- 1.2.9 Clearances/advance assurances for Enterprise Investment Schemes (EIS) -- the Seed Enterprise Investment Scheme (SEIS) -- the Social Investment Tax Relief Scheme (SITR) -- and Venture Capital Trusts (VCT) -- 1.2.10 Non-statutory clearances -- 1.3 Post-completion clearances -- 1.3.1 TCGA s.138A(4A) - election for TCGA s.138A treatment29F28F not to apply -- 1.3.2 TCGA s.162A - election for TCGA s.162 not to apply -- 1.3.3 CTA 2010 s.1092 - advance clearance for chargeable payments -- 1.4 Transactions and clearances with EU dimension -- 1.4.1 TCGA s.140A - transfer or division of UK business - clearance under TCGA s.140B39F38F -- 1.4.2 CTA 2009 s.827 - application for roll-over relief on a cross-border transfer involving intangible fixed assets
505	8		\|a 1.4.3 TCGA s.140C - transfer or division of non-UK business - clearance under TCGA s.140D -- 1.4.4 Sections 140E and 140F TCGA - merger leaving assets within or outside UK tax charge - clearances under TCGA s.138 -- 1.5 Employee share scheme matters -- 1.6 Buyer's issues -- 1.7 Seller's issues -- 1.8 Negotiating the tax schedule -- 1.8.1 Required background information -- 1.8.2 The purpose of the tax schedule -- 1.8.3 Clarity in the tax schedule -- 1.8.4 Negotiating tactics -- 1.8.5 No conflict with the SPA -- 1.9 Completion issues -- 1.9.1 Option and share scheme matters50F49F -- 1.9.2 Partly-paid shares -- 1.10 Post-completion matters -- 1.10.1 Approved share schemes -- 1.10.2 Roll-over options -- 1.10.3 Reporting for matters relating to options and shares -- 1.10.4 VAT degrouping issues -- 1.10.5 Degrouping and withdrawal of stamp duty land tax relief (SDLT) -- 1.10.6 Post-Completion Clearances -- 2 DUE DILIGENCE -- 2.1 Overview -- 2.2 The buyer's tax due diligence report -- 2.3 The seller's tax due diligence report -- 2.4 The disclosure process -- 2.5 Measuring the risk -- 2.6 Due diligence in the purchase of a business -- 2.7 Tax due diligence in the purchase of a company -- 3 WARRANTIES -- 3.1 Overview -- 3.2 Warranties in due diligence -- 3.3 Disclosures against tax warranties62F61F -- 3.4 Accounts, tax computations and payments -- 3.5 Administration and tax compliance -- 3.6 Advance corporation tax (ACT) -- 3.7 Anti-avoidance -- 3.8 Associated companies -- 3.9 Capital allowances -- 3.10 Chargeable gains -- 3.10.1 Chargeable gains - single corporate entity -- 3.10.2 Chargeable gains - target leaves a group -- 3.10.3 Chargeable gains - target a holding company -- 3.11 Clearances -- 3.12 Close companies -- Close investment-holding companies -- Inheritance tax issues for a close company -- 3.13 The construction industry scheme (CIS)
505	8		\|a 3.14 Controlled foreign companies (CFC) -- 3.15 Corporation tax -- 3.15.1 Quarterly instalment payment regime -- 3.16 Deferred tax -- 3.17 Demergers and exempt distributions -- 3.18 Disclosure of tax avoidance schemes (DOTAS)106F105F -- 3.19 Distributions and dividends -- 3.20 Dormant companies -- 3.21 Employment-related tax issues -- 3.22 Group issues -- 3.23 Inheritance tax -- 3.24 Insolvency issues -- 3.25 Intellectual property -- 3.26 Land and property issues -- 3.27 Loan relationships -- 3.28 National insurance contributions (NICs) -- 3.29 PAYE -- 3.30 Penalties regime -- 3.31 Research and development (R&amp -- D) -- 3.32 Residency issues -- 3.33 Secondary tax liabilities -- 3.33.1 Company purchased tax avoidance schemes -- 3.33.2 TCGA section 190 - Tax recoverable from another group company (Section 190) -- 3.33.3 Secondary tax liabilities warranties -- 3.34 Self-assessment -- 3.35 Stamp taxes -- 3.35.1 Stamp duty -- 3.35.2 Stamp duty reserve tax (SDRT) -- 3.35.3 Stamp duty land tax (SDLT) -- 3.35.3.1 SDLT anti-avoidance provisions under sections 75A, 75B and 75C FA 2003 -- 3.35.4 SDLT DOTAS -- 3.35.5 Stamp duty and SDLT warranties -- 3.36 Transfer pricing and non-arm's length transactions -- 3.36.1 Transfer pricing warranties -- 3.37 Value added tax and Customs &amp -- Excise -- 3.37.1 VAT -- 3.37.2 VAT DOTAS -- 3.37.3 VAT group issues -- 3.37.4 The capital goods scheme (CGS)204F203F -- 3.38 Value shifting205F204F and depreciatory transactions206F205F -- 4 SALE AND PURCHASE OF A COMPANY -- 4.1 Background issues -- 4.2 Issues for the buyer -- 4.2.1 Valuation -- 4.2.1.1 Trading companies and groups -- 4.2.1.2 Single asset companies -- 4.2.1.3 Investment companies -- 4.2.2 Hive-downs -- 4.2.3 Funding the purchase price -- 4.2.4 Post-completion protections -- 4.3 Taxation issues for the seller -- 4.3.1 Capital gains for individuals
505	8		\|a 4.3.1.1 Entrepreneurs' relief/business asset disposal relief221F220F -- 4.3.1.2 Investors' Relief -- 4.3.1.3 Inheritance tax -- 4.3.1.4 Reliefs under EIS, SEIS and SITR -- 4.3.2 Chargeable gains for companies -- 4.3.2.1 Substantial shareholdings exemption -- 4.3.2.2 Inter-action of SSE with the corporate venturing scheme (CVS) -- 4.4 Dealing with target's pre-completion debts -- 4.5 Accounts and completion accounts -- 4.6 Structuring the consideration -- 4.6.1 Cash consideration -- 4.6.2 Delayed consideration -- 4.6.3 Shares and securities as consideration (a share for share exchange)245F244F -- 4.6.4 Earn-outs -- 4.6.4.1 Ascertainable consideration -- 4.6.4.2 Instalment payments -- 4.6.4.3 TCGA section 138A (Use of earn-out rights for exchange of securities) -- 4.6.4.4 Marren v Ingles [1980] 2 All ER 95 -- 4.6.4.5 Commercial issues relating to earn-outs -- 5 SALE AND PURCHASE OF A BUSINESS -- 5.1 General overview -- 5.2 Commercial considerations -- 5.2.1 Apportionment of consideration -- 5.2.1.1 Trade related properties -- 5.3 Due diligence -- 5.4 Tax issues -- 5.4.1 Chargeable gains -- 5.4.1.1 Entrepreneurs' relief/ business asset disposal relief264F263F -- 5.4.1.2 Roll-Over Relief for business assets under TCGA s.152 -- 5.4.2 Intangible assets -- 5.4.3 Stamp duty and stamp duty land tax -- 5.4.4 PAYE and employment-related issues -- 5.4.5 Inheritance tax -- 5.5 VAT and transfers as a going concern (TOGC) -- 5.5.1 Transactional issues relating to a TOGC -- 5.5.2 VAT registration issues for a TOGC -- 5.5.3 Requirements of a TOGC -- 5.5.4 TOGCs involving land and buildings -- 5.5.5 Property rental business transferred under a TOGC -- 5.5.6 Assignment of leases -- 5.5.7 Nominee sellers and buyers -- 5.5.7.1 Notice of Agreement -- 5.5.8 VAT records and a TOGC -- 5.5.9 VAT groups and TOGC -- 5.5.10 Seller tax warranties for a TOGC.
505	8		\|a 5.5.11 Buyer warranties for a TOGC -- 6 SPECIAL SITUATIONS -- 6.1 Insolvencies and administrations -- 6.1.1 Overview -- 6.1.1.1 Administrative receivership -- 6.1.1.2 Creditors' voluntary liquidation ('CVL') -- 6.1.1.3 Members' voluntary liquidation ('MVL') -- 6.1.1.4 Compulsory winding up or liquidation -- 6.1.1.5 Provisional liquidation -- 6.1.1.6 Administration285F284F -- 6.1.1.7 Scheme of arrangement/voluntary arrangement -- 6.1.1.8 Liquidation -- 6.1.1.9 Transactional issues -- 6.1.2 Taxation issues during insolvency proceedings -- 6.1.2.1 Trading losses and profits -- 6.1.2.2 Accounting periods -- 6.1.2.3 Corporation tax -- 6.1.2.4 Ownership of assets and group issues -- 6.1.2.5 VAT299F298F -- 6.1.2.6 New anti-avoidance provisions involving close companies in the Finance (No 2) Bill 2016 -- 6.1.3 Transactional issues -- 6.1.3.1 Hive-down of assets into newco -- 6.1.3.2 Substantial shareholdings exemption as it applies to insolvencies302F301F -- 6.1.4 Pre-packaged administration -- 6.2 The locked box mechanism -- 6.3 Public listings and offerings -- 6.4 Partnerships -- 7 SHARE SCHEME ISSUES -- 7.1 Overview -- 7.2 Corporation tax relief - an important negotiating issue -- 7.3 Tax issues arising in respect of share incentive schemes -- 7.4 Roll-over options -- 7.5 Takeover code issues -- 7.6 Administrative and reporting requirements for HMRC-approved schemes -- 7.6.1 Approved CSOPs -- 7.6.2 SAYE schemes -- 7.6.3 SIPs -- 7.6.4 EMIs -- 7.7 Partly paid shares -- 7.8 Disguised remuneration rules326F325F -- 7.9 Employee shareholders and ESS -- 8 VENTURE CAPITAL SCHEMES -- 8.1 The Enterprise investment scheme -- 8.1.1 Background -- 8.1.2 Issuing company requirements332F331F -- 8.1.3 Investor eligibility for relief343F342F -- 8.1.4 No connection with the issuing company347F346F -- 8.1.5 Unpaid directors350F349F.
505	8		\|a 8.1.6 Investors becoming paid directors ('Business Angels')352F351F.
520			\|a The Tax Schedule explains the underlying rationale of the key provisions of the tax schedule, and provides updated model long-form and short-form warranties and tax indemnities. The purpose of the book is to explain and simplify issues for tax advisors involved in transactions of buying and selling companies and business, enabling negotiations between tax advisors to keep sight of the commercial reality of the transaction (a sale by a willing seller to a willing buyer). The purpose of the tax schedule is to determine where responsibilities and risks will lie following the completion of the transaction, as well as to re-examine a number of so-called 'market practices'
776	0	8	\|i Erscheint auch als \|n Druck-Ausgabe \|a Gibson, Eile \|t The Tax Schedule \|d London : Spiramus Press,c2023 \|z 9781913507299
912			\|a ZDB-30-PQE
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966	e		\|u https://ebookcentral.proquest.com/lib/hwr/detail.action?docID=31643273 \|l DE-2070s \|p ZDB-30-PQE \|q HWR_PDA_PQE \|x Aggregator \|3 Volltext

Datensatz im Suchindex

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contents	Intro -- Preface to the fourth edition -- Preface to the first edition -- Acknowledgements -- Online resources -- Table of authorities -- Glossary -- 1 THE TRANSACTIONAL PROCESS -- 1.1 Background issues -- 1.2 Pre-completion clearances -- 1.2.1 CTA 2010, s.1091 - advance clearance relating to a demerger and exempt distribution under CTA 2010 s.1075 -- 1.2.2 TCGA s.138 - advance clearance for an exchange of securities for those in another company under TCGA s.135 -- 1.2.3 TCGA s.138 - advance clearance for a scheme of reconstruction involving issue of securities under TCGA s.136 -- 1.2.4 TCGA s.138 clearance - advance clearance for a reconstruction involving transfer of a business under TCGA s.139 -- 1.2.5 CTA 2009 s.831 - clearance for a transfer of business or trade involving intangible assets under CTA 2009 s.818 -- 1.2.6 FA 1986 s.75 (Acquisition relief for stamp duty) -- 1.2.7 FA 1986 s.77 (Stamp duty relief involving acquisition of target's share capital) -- 1.2.8 CTA 2010 s.748 and ITA s.701 advance clearance - cancellation of tax advantages from certain transactions in securities -- 1.2.9 Clearances/advance assurances for Enterprise Investment Schemes (EIS) -- the Seed Enterprise Investment Scheme (SEIS) -- the Social Investment Tax Relief Scheme (SITR) -- and Venture Capital Trusts (VCT) -- 1.2.10 Non-statutory clearances -- 1.3 Post-completion clearances -- 1.3.1 TCGA s.138A(4A) - election for TCGA s.138A treatment29F28F not to apply -- 1.3.2 TCGA s.162A - election for TCGA s.162 not to apply -- 1.3.3 CTA 2010 s.1092 - advance clearance for chargeable payments -- 1.4 Transactions and clearances with EU dimension -- 1.4.1 TCGA s.140A - transfer or division of UK business - clearance under TCGA s.140B39F38F -- 1.4.2 CTA 2009 s.827 - application for roll-over relief on a cross-border transfer involving intangible fixed assets 1.4.3 TCGA s.140C - transfer or division of non-UK business - clearance under TCGA s.140D -- 1.4.4 Sections 140E and 140F TCGA - merger leaving assets within or outside UK tax charge - clearances under TCGA s.138 -- 1.5 Employee share scheme matters -- 1.6 Buyer's issues -- 1.7 Seller's issues -- 1.8 Negotiating the tax schedule -- 1.8.1 Required background information -- 1.8.2 The purpose of the tax schedule -- 1.8.3 Clarity in the tax schedule -- 1.8.4 Negotiating tactics -- 1.8.5 No conflict with the SPA -- 1.9 Completion issues -- 1.9.1 Option and share scheme matters50F49F -- 1.9.2 Partly-paid shares -- 1.10 Post-completion matters -- 1.10.1 Approved share schemes -- 1.10.2 Roll-over options -- 1.10.3 Reporting for matters relating to options and shares -- 1.10.4 VAT degrouping issues -- 1.10.5 Degrouping and withdrawal of stamp duty land tax relief (SDLT) -- 1.10.6 Post-Completion Clearances -- 2 DUE DILIGENCE -- 2.1 Overview -- 2.2 The buyer's tax due diligence report -- 2.3 The seller's tax due diligence report -- 2.4 The disclosure process -- 2.5 Measuring the risk -- 2.6 Due diligence in the purchase of a business -- 2.7 Tax due diligence in the purchase of a company -- 3 WARRANTIES -- 3.1 Overview -- 3.2 Warranties in due diligence -- 3.3 Disclosures against tax warranties62F61F -- 3.4 Accounts, tax computations and payments -- 3.5 Administration and tax compliance -- 3.6 Advance corporation tax (ACT) -- 3.7 Anti-avoidance -- 3.8 Associated companies -- 3.9 Capital allowances -- 3.10 Chargeable gains -- 3.10.1 Chargeable gains - single corporate entity -- 3.10.2 Chargeable gains - target leaves a group -- 3.10.3 Chargeable gains - target a holding company -- 3.11 Clearances -- 3.12 Close companies -- Close investment-holding companies -- Inheritance tax issues for a close company -- 3.13 The construction industry scheme (CIS) 3.14 Controlled foreign companies (CFC) -- 3.15 Corporation tax -- 3.15.1 Quarterly instalment payment regime -- 3.16 Deferred tax -- 3.17 Demergers and exempt distributions -- 3.18 Disclosure of tax avoidance schemes (DOTAS)106F105F -- 3.19 Distributions and dividends -- 3.20 Dormant companies -- 3.21 Employment-related tax issues -- 3.22 Group issues -- 3.23 Inheritance tax -- 3.24 Insolvency issues -- 3.25 Intellectual property -- 3.26 Land and property issues -- 3.27 Loan relationships -- 3.28 National insurance contributions (NICs) -- 3.29 PAYE -- 3.30 Penalties regime -- 3.31 Research and development (R&amp -- D) -- 3.32 Residency issues -- 3.33 Secondary tax liabilities -- 3.33.1 Company purchased tax avoidance schemes -- 3.33.2 TCGA section 190 - Tax recoverable from another group company (Section 190) -- 3.33.3 Secondary tax liabilities warranties -- 3.34 Self-assessment -- 3.35 Stamp taxes -- 3.35.1 Stamp duty -- 3.35.2 Stamp duty reserve tax (SDRT) -- 3.35.3 Stamp duty land tax (SDLT) -- 3.35.3.1 SDLT anti-avoidance provisions under sections 75A, 75B and 75C FA 2003 -- 3.35.4 SDLT DOTAS -- 3.35.5 Stamp duty and SDLT warranties -- 3.36 Transfer pricing and non-arm's length transactions -- 3.36.1 Transfer pricing warranties -- 3.37 Value added tax and Customs &amp -- Excise -- 3.37.1 VAT -- 3.37.2 VAT DOTAS -- 3.37.3 VAT group issues -- 3.37.4 The capital goods scheme (CGS)204F203F -- 3.38 Value shifting205F204F and depreciatory transactions206F205F -- 4 SALE AND PURCHASE OF A COMPANY -- 4.1 Background issues -- 4.2 Issues for the buyer -- 4.2.1 Valuation -- 4.2.1.1 Trading companies and groups -- 4.2.1.2 Single asset companies -- 4.2.1.3 Investment companies -- 4.2.2 Hive-downs -- 4.2.3 Funding the purchase price -- 4.2.4 Post-completion protections -- 4.3 Taxation issues for the seller -- 4.3.1 Capital gains for individuals 4.3.1.1 Entrepreneurs' relief/business asset disposal relief221F220F -- 4.3.1.2 Investors' Relief -- 4.3.1.3 Inheritance tax -- 4.3.1.4 Reliefs under EIS, SEIS and SITR -- 4.3.2 Chargeable gains for companies -- 4.3.2.1 Substantial shareholdings exemption -- 4.3.2.2 Inter-action of SSE with the corporate venturing scheme (CVS) -- 4.4 Dealing with target's pre-completion debts -- 4.5 Accounts and completion accounts -- 4.6 Structuring the consideration -- 4.6.1 Cash consideration -- 4.6.2 Delayed consideration -- 4.6.3 Shares and securities as consideration (a share for share exchange)245F244F -- 4.6.4 Earn-outs -- 4.6.4.1 Ascertainable consideration -- 4.6.4.2 Instalment payments -- 4.6.4.3 TCGA section 138A (Use of earn-out rights for exchange of securities) -- 4.6.4.4 Marren v Ingles [1980] 2 All ER 95 -- 4.6.4.5 Commercial issues relating to earn-outs -- 5 SALE AND PURCHASE OF A BUSINESS -- 5.1 General overview -- 5.2 Commercial considerations -- 5.2.1 Apportionment of consideration -- 5.2.1.1 Trade related properties -- 5.3 Due diligence -- 5.4 Tax issues -- 5.4.1 Chargeable gains -- 5.4.1.1 Entrepreneurs' relief/ business asset disposal relief264F263F -- 5.4.1.2 Roll-Over Relief for business assets under TCGA s.152 -- 5.4.2 Intangible assets -- 5.4.3 Stamp duty and stamp duty land tax -- 5.4.4 PAYE and employment-related issues -- 5.4.5 Inheritance tax -- 5.5 VAT and transfers as a going concern (TOGC) -- 5.5.1 Transactional issues relating to a TOGC -- 5.5.2 VAT registration issues for a TOGC -- 5.5.3 Requirements of a TOGC -- 5.5.4 TOGCs involving land and buildings -- 5.5.5 Property rental business transferred under a TOGC -- 5.5.6 Assignment of leases -- 5.5.7 Nominee sellers and buyers -- 5.5.7.1 Notice of Agreement -- 5.5.8 VAT records and a TOGC -- 5.5.9 VAT groups and TOGC -- 5.5.10 Seller tax warranties for a TOGC. 5.5.11 Buyer warranties for a TOGC -- 6 SPECIAL SITUATIONS -- 6.1 Insolvencies and administrations -- 6.1.1 Overview -- 6.1.1.1 Administrative receivership -- 6.1.1.2 Creditors' voluntary liquidation ('CVL') -- 6.1.1.3 Members' voluntary liquidation ('MVL') -- 6.1.1.4 Compulsory winding up or liquidation -- 6.1.1.5 Provisional liquidation -- 6.1.1.6 Administration285F284F -- 6.1.1.7 Scheme of arrangement/voluntary arrangement -- 6.1.1.8 Liquidation -- 6.1.1.9 Transactional issues -- 6.1.2 Taxation issues during insolvency proceedings -- 6.1.2.1 Trading losses and profits -- 6.1.2.2 Accounting periods -- 6.1.2.3 Corporation tax -- 6.1.2.4 Ownership of assets and group issues -- 6.1.2.5 VAT299F298F -- 6.1.2.6 New anti-avoidance provisions involving close companies in the Finance (No 2) Bill 2016 -- 6.1.3 Transactional issues -- 6.1.3.1 Hive-down of assets into newco -- 6.1.3.2 Substantial shareholdings exemption as it applies to insolvencies302F301F -- 6.1.4 Pre-packaged administration -- 6.2 The locked box mechanism -- 6.3 Public listings and offerings -- 6.4 Partnerships -- 7 SHARE SCHEME ISSUES -- 7.1 Overview -- 7.2 Corporation tax relief - an important negotiating issue -- 7.3 Tax issues arising in respect of share incentive schemes -- 7.4 Roll-over options -- 7.5 Takeover code issues -- 7.6 Administrative and reporting requirements for HMRC-approved schemes -- 7.6.1 Approved CSOPs -- 7.6.2 SAYE schemes -- 7.6.3 SIPs -- 7.6.4 EMIs -- 7.7 Partly paid shares -- 7.8 Disguised remuneration rules326F325F -- 7.9 Employee shareholders and ESS -- 8 VENTURE CAPITAL SCHEMES -- 8.1 The Enterprise investment scheme -- 8.1.1 Background -- 8.1.2 Issuing company requirements332F331F -- 8.1.3 Investor eligibility for relief343F342F -- 8.1.4 No connection with the issuing company347F346F -- 8.1.5 Unpaid directors350F349F. 8.1.6 Investors becoming paid directors ('Business Angels')352F351F.
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advance clearance relating to a demerger and exempt distribution under CTA 2010 s.1075 -- 1.2.2 TCGA s.138 - advance clearance for an exchange of securities for those in another company under TCGA s.135 -- 1.2.3 TCGA s.138 - advance clearance for a scheme of reconstruction involving issue of securities under TCGA s.136 -- 1.2.4 TCGA s.138 clearance - advance clearance for a reconstruction involving transfer of a business under TCGA s.139 -- 1.2.5 CTA 2009 s.831 - clearance for a transfer of business or trade involving intangible assets under CTA 2009 s.818 -- 1.2.6 FA 1986 s.75 (Acquisition relief for stamp duty) -- 1.2.7 FA 1986 s.77 (Stamp duty relief involving acquisition of target's share capital) -- 1.2.8 CTA 2010 s.748 and ITA s.701 advance clearance - cancellation of tax advantages from certain transactions in securities -- 1.2.9 Clearances/advance assurances for Enterprise Investment Schemes (EIS) -- the Seed Enterprise Investment Scheme (SEIS) -- the Social Investment Tax Relief Scheme (SITR) -- and Venture Capital Trusts (VCT) -- 1.2.10 Non-statutory clearances -- 1.3 Post-completion clearances -- 1.3.1 TCGA s.138A(4A) - election for TCGA s.138A treatment29F28F not to apply -- 1.3.2 TCGA s.162A - election for TCGA s.162 not to apply -- 1.3.3 CTA 2010 s.1092 - advance clearance for chargeable payments -- 1.4 Transactions and clearances with EU dimension -- 1.4.1 TCGA s.140A - transfer or division of UK business - clearance under TCGA s.140B39F38F -- 1.4.2 CTA 2009 s.827 - application for roll-over relief on a cross-border transfer involving intangible fixed assets</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">1.4.3 TCGA s.140C - transfer or division of non-UK business - clearance under TCGA s.140D -- 1.4.4 Sections 140E and 140F TCGA - merger leaving assets within or outside UK tax charge - clearances under TCGA s.138 -- 1.5 Employee share scheme matters -- 1.6 Buyer's issues -- 1.7 Seller's issues -- 1.8 Negotiating the tax schedule -- 1.8.1 Required background information -- 1.8.2 The purpose of the tax schedule -- 1.8.3 Clarity in the tax schedule -- 1.8.4 Negotiating tactics -- 1.8.5 No conflict with the SPA -- 1.9 Completion issues -- 1.9.1 Option and share scheme matters50F49F -- 1.9.2 Partly-paid shares -- 1.10 Post-completion matters -- 1.10.1 Approved share schemes -- 1.10.2 Roll-over options -- 1.10.3 Reporting for matters relating to options and shares -- 1.10.4 VAT degrouping issues -- 1.10.5 Degrouping and withdrawal of stamp duty land tax relief (SDLT) -- 1.10.6 Post-Completion Clearances -- 2 DUE DILIGENCE -- 2.1 Overview -- 2.2 The buyer's tax due diligence report -- 2.3 The seller's tax due diligence report -- 2.4 The disclosure process -- 2.5 Measuring the risk -- 2.6 Due diligence in the purchase of a business -- 2.7 Tax due diligence in the purchase of a company -- 3 WARRANTIES -- 3.1 Overview -- 3.2 Warranties in due diligence -- 3.3 Disclosures against tax warranties62F61F -- 3.4 Accounts, tax computations and payments -- 3.5 Administration and tax compliance -- 3.6 Advance corporation tax (ACT) -- 3.7 Anti-avoidance -- 3.8 Associated companies -- 3.9 Capital allowances -- 3.10 Chargeable gains -- 3.10.1 Chargeable gains - single corporate entity -- 3.10.2 Chargeable gains - target leaves a group -- 3.10.3 Chargeable gains - target a holding company -- 3.11 Clearances -- 3.12 Close companies -- Close investment-holding companies -- Inheritance tax issues for a close company -- 3.13 The construction industry scheme (CIS)</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">3.14 Controlled foreign companies (CFC) -- 3.15 Corporation tax -- 3.15.1 Quarterly instalment payment regime -- 3.16 Deferred tax -- 3.17 Demergers and exempt distributions -- 3.18 Disclosure of tax avoidance schemes (DOTAS)106F105F -- 3.19 Distributions and dividends -- 3.20 Dormant companies -- 3.21 Employment-related tax issues -- 3.22 Group issues -- 3.23 Inheritance tax -- 3.24 Insolvency issues -- 3.25 Intellectual property -- 3.26 Land and property issues -- 3.27 Loan relationships -- 3.28 National insurance contributions (NICs) -- 3.29 PAYE -- 3.30 Penalties regime -- 3.31 Research and development (R&amp -- D) -- 3.32 Residency issues -- 3.33 Secondary tax liabilities -- 3.33.1 Company purchased tax avoidance schemes -- 3.33.2 TCGA section 190 - Tax recoverable from another group company (Section 190) -- 3.33.3 Secondary tax liabilities warranties -- 3.34 Self-assessment -- 3.35 Stamp taxes -- 3.35.1 Stamp duty -- 3.35.2 Stamp duty reserve tax (SDRT) -- 3.35.3 Stamp duty land tax (SDLT) -- 3.35.3.1 SDLT anti-avoidance provisions under sections 75A, 75B and 75C FA 2003 -- 3.35.4 SDLT DOTAS -- 3.35.5 Stamp duty and SDLT warranties -- 3.36 Transfer pricing and non-arm's length transactions -- 3.36.1 Transfer pricing warranties -- 3.37 Value added tax and Customs &amp -- Excise -- 3.37.1 VAT -- 3.37.2 VAT DOTAS -- 3.37.3 VAT group issues -- 3.37.4 The capital goods scheme (CGS)204F203F -- 3.38 Value shifting205F204F and depreciatory transactions206F205F -- 4 SALE AND PURCHASE OF A COMPANY -- 4.1 Background issues -- 4.2 Issues for the buyer -- 4.2.1 Valuation -- 4.2.1.1 Trading companies and groups -- 4.2.1.2 Single asset companies -- 4.2.1.3 Investment companies -- 4.2.2 Hive-downs -- 4.2.3 Funding the purchase price -- 4.2.4 Post-completion protections -- 4.3 Taxation issues for the seller -- 4.3.1 Capital gains for individuals</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">4.3.1.1 Entrepreneurs' relief/business asset disposal relief221F220F -- 4.3.1.2 Investors' Relief -- 4.3.1.3 Inheritance tax -- 4.3.1.4 Reliefs under EIS, SEIS and SITR -- 4.3.2 Chargeable gains for companies -- 4.3.2.1 Substantial shareholdings exemption -- 4.3.2.2 Inter-action of SSE with the corporate venturing scheme (CVS) -- 4.4 Dealing with target's pre-completion debts -- 4.5 Accounts and completion accounts -- 4.6 Structuring the consideration -- 4.6.1 Cash consideration -- 4.6.2 Delayed consideration -- 4.6.3 Shares and securities as consideration (a share for share exchange)245F244F -- 4.6.4 Earn-outs -- 4.6.4.1 Ascertainable consideration -- 4.6.4.2 Instalment payments -- 4.6.4.3 TCGA section 138A (Use of earn-out rights for exchange of securities) -- 4.6.4.4 Marren v Ingles [1980] 2 All ER 95 -- 4.6.4.5 Commercial issues relating to earn-outs -- 5 SALE AND PURCHASE OF A BUSINESS -- 5.1 General overview -- 5.2 Commercial considerations -- 5.2.1 Apportionment of consideration -- 5.2.1.1 Trade related properties -- 5.3 Due diligence -- 5.4 Tax issues -- 5.4.1 Chargeable gains -- 5.4.1.1 Entrepreneurs' relief/ business asset disposal relief264F263F -- 5.4.1.2 Roll-Over Relief for business assets under TCGA s.152 -- 5.4.2 Intangible assets -- 5.4.3 Stamp duty and stamp duty land tax -- 5.4.4 PAYE and employment-related issues -- 5.4.5 Inheritance tax -- 5.5 VAT and transfers as a going concern (TOGC) -- 5.5.1 Transactional issues relating to a TOGC -- 5.5.2 VAT registration issues for a TOGC -- 5.5.3 Requirements of a TOGC -- 5.5.4 TOGCs involving land and buildings -- 5.5.5 Property rental business transferred under a TOGC -- 5.5.6 Assignment of leases -- 5.5.7 Nominee sellers and buyers -- 5.5.7.1 Notice of Agreement -- 5.5.8 VAT records and a TOGC -- 5.5.9 VAT groups and TOGC -- 5.5.10 Seller tax warranties for a TOGC.</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">5.5.11 Buyer warranties for a TOGC -- 6 SPECIAL SITUATIONS -- 6.1 Insolvencies and administrations -- 6.1.1 Overview -- 6.1.1.1 Administrative receivership -- 6.1.1.2 Creditors' voluntary liquidation ('CVL') -- 6.1.1.3 Members' voluntary liquidation ('MVL') -- 6.1.1.4 Compulsory winding up or liquidation -- 6.1.1.5 Provisional liquidation -- 6.1.1.6 Administration285F284F -- 6.1.1.7 Scheme of arrangement/voluntary arrangement -- 6.1.1.8 Liquidation -- 6.1.1.9 Transactional issues -- 6.1.2 Taxation issues during insolvency proceedings -- 6.1.2.1 Trading losses and profits -- 6.1.2.2 Accounting periods -- 6.1.2.3 Corporation tax -- 6.1.2.4 Ownership of assets and group issues -- 6.1.2.5 VAT299F298F -- 6.1.2.6 New anti-avoidance provisions involving close companies in the Finance (No 2) Bill 2016 -- 6.1.3 Transactional issues -- 6.1.3.1 Hive-down of assets into newco -- 6.1.3.2 Substantial shareholdings exemption as it applies to insolvencies302F301F -- 6.1.4 Pre-packaged administration -- 6.2 The locked box mechanism -- 6.3 Public listings and offerings -- 6.4 Partnerships -- 7 SHARE SCHEME ISSUES -- 7.1 Overview -- 7.2 Corporation tax relief - an important negotiating issue -- 7.3 Tax issues arising in respect of share incentive schemes -- 7.4 Roll-over options -- 7.5 Takeover code issues -- 7.6 Administrative and reporting requirements for HMRC-approved schemes -- 7.6.1 Approved CSOPs -- 7.6.2 SAYE schemes -- 7.6.3 SIPs -- 7.6.4 EMIs -- 7.7 Partly paid shares -- 7.8 Disguised remuneration rules326F325F -- 7.9 Employee shareholders and ESS -- 8 VENTURE CAPITAL SCHEMES -- 8.1 The Enterprise investment scheme -- 8.1.1 Background -- 8.1.2 Issuing company requirements332F331F -- 8.1.3 Investor eligibility for relief343F342F -- 8.1.4 No connection with the issuing company347F346F -- 8.1.5 Unpaid directors350F349F.</subfield></datafield><datafield tag="505" ind1="8" ind2=" "><subfield code="a">8.1.6 Investors becoming paid directors ('Business Angels')352F351F.</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">The Tax Schedule explains the underlying rationale of the key provisions of the tax schedule, and provides updated model long-form and short-form warranties and tax indemnities. The purpose of the book is to explain and simplify issues for tax advisors involved in transactions of buying and selling companies and business, enabling negotiations between tax advisors to keep sight of the commercial reality of the transaction (a sale by a willing seller to a willing buyer). 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id	DE-604.BV050101280
illustrated	Not Illustrated
indexdate	2025-02-10T13:07:44Z
institution	BVB
isbn	9781913507305
language	English
oai_aleph_id	oai:aleph.bib-bvb.de:BVB01-035438442
oclc_num	1492128790
open_access_boolean
owner	DE-2070s
owner_facet	DE-2070s
physical	1 Online-Ressource (578 Seiten)
psigel	ZDB-30-PQE ZDB-30-PQE HWR_PDA_PQE
publishDate	2023
publishDateSearch	2023
publishDateSort	2023
publisher	Spiramus Press
record_format	marc
spelling	Gibson, Eile Verfasser aut The Tax Schedule A Guide to Warranties and Indemnities 4th ed London Spiramus Press 2023 ©2023 1 Online-Ressource (578 Seiten) txt rdacontent c rdamedia cr rdacarrier Description based on publisher supplied metadata and other sources Intro -- Preface to the fourth edition -- Preface to the first edition -- Acknowledgements -- Online resources -- Table of authorities -- Glossary -- 1 THE TRANSACTIONAL PROCESS -- 1.1 Background issues -- 1.2 Pre-completion clearances -- 1.2.1 CTA 2010, s.1091 - advance clearance relating to a demerger and exempt distribution under CTA 2010 s.1075 -- 1.2.2 TCGA s.138 - advance clearance for an exchange of securities for those in another company under TCGA s.135 -- 1.2.3 TCGA s.138 - advance clearance for a scheme of reconstruction involving issue of securities under TCGA s.136 -- 1.2.4 TCGA s.138 clearance - advance clearance for a reconstruction involving transfer of a business under TCGA s.139 -- 1.2.5 CTA 2009 s.831 - clearance for a transfer of business or trade involving intangible assets under CTA 2009 s.818 -- 1.2.6 FA 1986 s.75 (Acquisition relief for stamp duty) -- 1.2.7 FA 1986 s.77 (Stamp duty relief involving acquisition of target's share capital) -- 1.2.8 CTA 2010 s.748 and ITA s.701 advance clearance - cancellation of tax advantages from certain transactions in securities -- 1.2.9 Clearances/advance assurances for Enterprise Investment Schemes (EIS) -- the Seed Enterprise Investment Scheme (SEIS) -- the Social Investment Tax Relief Scheme (SITR) -- and Venture Capital Trusts (VCT) -- 1.2.10 Non-statutory clearances -- 1.3 Post-completion clearances -- 1.3.1 TCGA s.138A(4A) - election for TCGA s.138A treatment29F28F not to apply -- 1.3.2 TCGA s.162A - election for TCGA s.162 not to apply -- 1.3.3 CTA 2010 s.1092 - advance clearance for chargeable payments -- 1.4 Transactions and clearances with EU dimension -- 1.4.1 TCGA s.140A - transfer or division of UK business - clearance under TCGA s.140B39F38F -- 1.4.2 CTA 2009 s.827 - application for roll-over relief on a cross-border transfer involving intangible fixed assets 1.4.3 TCGA s.140C - transfer or division of non-UK business - clearance under TCGA s.140D -- 1.4.4 Sections 140E and 140F TCGA - merger leaving assets within or outside UK tax charge - clearances under TCGA s.138 -- 1.5 Employee share scheme matters -- 1.6 Buyer's issues -- 1.7 Seller's issues -- 1.8 Negotiating the tax schedule -- 1.8.1 Required background information -- 1.8.2 The purpose of the tax schedule -- 1.8.3 Clarity in the tax schedule -- 1.8.4 Negotiating tactics -- 1.8.5 No conflict with the SPA -- 1.9 Completion issues -- 1.9.1 Option and share scheme matters50F49F -- 1.9.2 Partly-paid shares -- 1.10 Post-completion matters -- 1.10.1 Approved share schemes -- 1.10.2 Roll-over options -- 1.10.3 Reporting for matters relating to options and shares -- 1.10.4 VAT degrouping issues -- 1.10.5 Degrouping and withdrawal of stamp duty land tax relief (SDLT) -- 1.10.6 Post-Completion Clearances -- 2 DUE DILIGENCE -- 2.1 Overview -- 2.2 The buyer's tax due diligence report -- 2.3 The seller's tax due diligence report -- 2.4 The disclosure process -- 2.5 Measuring the risk -- 2.6 Due diligence in the purchase of a business -- 2.7 Tax due diligence in the purchase of a company -- 3 WARRANTIES -- 3.1 Overview -- 3.2 Warranties in due diligence -- 3.3 Disclosures against tax warranties62F61F -- 3.4 Accounts, tax computations and payments -- 3.5 Administration and tax compliance -- 3.6 Advance corporation tax (ACT) -- 3.7 Anti-avoidance -- 3.8 Associated companies -- 3.9 Capital allowances -- 3.10 Chargeable gains -- 3.10.1 Chargeable gains - single corporate entity -- 3.10.2 Chargeable gains - target leaves a group -- 3.10.3 Chargeable gains - target a holding company -- 3.11 Clearances -- 3.12 Close companies -- Close investment-holding companies -- Inheritance tax issues for a close company -- 3.13 The construction industry scheme (CIS) 3.14 Controlled foreign companies (CFC) -- 3.15 Corporation tax -- 3.15.1 Quarterly instalment payment regime -- 3.16 Deferred tax -- 3.17 Demergers and exempt distributions -- 3.18 Disclosure of tax avoidance schemes (DOTAS)106F105F -- 3.19 Distributions and dividends -- 3.20 Dormant companies -- 3.21 Employment-related tax issues -- 3.22 Group issues -- 3.23 Inheritance tax -- 3.24 Insolvency issues -- 3.25 Intellectual property -- 3.26 Land and property issues -- 3.27 Loan relationships -- 3.28 National insurance contributions (NICs) -- 3.29 PAYE -- 3.30 Penalties regime -- 3.31 Research and development (R&amp -- D) -- 3.32 Residency issues -- 3.33 Secondary tax liabilities -- 3.33.1 Company purchased tax avoidance schemes -- 3.33.2 TCGA section 190 - Tax recoverable from another group company (Section 190) -- 3.33.3 Secondary tax liabilities warranties -- 3.34 Self-assessment -- 3.35 Stamp taxes -- 3.35.1 Stamp duty -- 3.35.2 Stamp duty reserve tax (SDRT) -- 3.35.3 Stamp duty land tax (SDLT) -- 3.35.3.1 SDLT anti-avoidance provisions under sections 75A, 75B and 75C FA 2003 -- 3.35.4 SDLT DOTAS -- 3.35.5 Stamp duty and SDLT warranties -- 3.36 Transfer pricing and non-arm's length transactions -- 3.36.1 Transfer pricing warranties -- 3.37 Value added tax and Customs &amp -- Excise -- 3.37.1 VAT -- 3.37.2 VAT DOTAS -- 3.37.3 VAT group issues -- 3.37.4 The capital goods scheme (CGS)204F203F -- 3.38 Value shifting205F204F and depreciatory transactions206F205F -- 4 SALE AND PURCHASE OF A COMPANY -- 4.1 Background issues -- 4.2 Issues for the buyer -- 4.2.1 Valuation -- 4.2.1.1 Trading companies and groups -- 4.2.1.2 Single asset companies -- 4.2.1.3 Investment companies -- 4.2.2 Hive-downs -- 4.2.3 Funding the purchase price -- 4.2.4 Post-completion protections -- 4.3 Taxation issues for the seller -- 4.3.1 Capital gains for individuals 4.3.1.1 Entrepreneurs' relief/business asset disposal relief221F220F -- 4.3.1.2 Investors' Relief -- 4.3.1.3 Inheritance tax -- 4.3.1.4 Reliefs under EIS, SEIS and SITR -- 4.3.2 Chargeable gains for companies -- 4.3.2.1 Substantial shareholdings exemption -- 4.3.2.2 Inter-action of SSE with the corporate venturing scheme (CVS) -- 4.4 Dealing with target's pre-completion debts -- 4.5 Accounts and completion accounts -- 4.6 Structuring the consideration -- 4.6.1 Cash consideration -- 4.6.2 Delayed consideration -- 4.6.3 Shares and securities as consideration (a share for share exchange)245F244F -- 4.6.4 Earn-outs -- 4.6.4.1 Ascertainable consideration -- 4.6.4.2 Instalment payments -- 4.6.4.3 TCGA section 138A (Use of earn-out rights for exchange of securities) -- 4.6.4.4 Marren v Ingles [1980] 2 All ER 95 -- 4.6.4.5 Commercial issues relating to earn-outs -- 5 SALE AND PURCHASE OF A BUSINESS -- 5.1 General overview -- 5.2 Commercial considerations -- 5.2.1 Apportionment of consideration -- 5.2.1.1 Trade related properties -- 5.3 Due diligence -- 5.4 Tax issues -- 5.4.1 Chargeable gains -- 5.4.1.1 Entrepreneurs' relief/ business asset disposal relief264F263F -- 5.4.1.2 Roll-Over Relief for business assets under TCGA s.152 -- 5.4.2 Intangible assets -- 5.4.3 Stamp duty and stamp duty land tax -- 5.4.4 PAYE and employment-related issues -- 5.4.5 Inheritance tax -- 5.5 VAT and transfers as a going concern (TOGC) -- 5.5.1 Transactional issues relating to a TOGC -- 5.5.2 VAT registration issues for a TOGC -- 5.5.3 Requirements of a TOGC -- 5.5.4 TOGCs involving land and buildings -- 5.5.5 Property rental business transferred under a TOGC -- 5.5.6 Assignment of leases -- 5.5.7 Nominee sellers and buyers -- 5.5.7.1 Notice of Agreement -- 5.5.8 VAT records and a TOGC -- 5.5.9 VAT groups and TOGC -- 5.5.10 Seller tax warranties for a TOGC. 5.5.11 Buyer warranties for a TOGC -- 6 SPECIAL SITUATIONS -- 6.1 Insolvencies and administrations -- 6.1.1 Overview -- 6.1.1.1 Administrative receivership -- 6.1.1.2 Creditors' voluntary liquidation ('CVL') -- 6.1.1.3 Members' voluntary liquidation ('MVL') -- 6.1.1.4 Compulsory winding up or liquidation -- 6.1.1.5 Provisional liquidation -- 6.1.1.6 Administration285F284F -- 6.1.1.7 Scheme of arrangement/voluntary arrangement -- 6.1.1.8 Liquidation -- 6.1.1.9 Transactional issues -- 6.1.2 Taxation issues during insolvency proceedings -- 6.1.2.1 Trading losses and profits -- 6.1.2.2 Accounting periods -- 6.1.2.3 Corporation tax -- 6.1.2.4 Ownership of assets and group issues -- 6.1.2.5 VAT299F298F -- 6.1.2.6 New anti-avoidance provisions involving close companies in the Finance (No 2) Bill 2016 -- 6.1.3 Transactional issues -- 6.1.3.1 Hive-down of assets into newco -- 6.1.3.2 Substantial shareholdings exemption as it applies to insolvencies302F301F -- 6.1.4 Pre-packaged administration -- 6.2 The locked box mechanism -- 6.3 Public listings and offerings -- 6.4 Partnerships -- 7 SHARE SCHEME ISSUES -- 7.1 Overview -- 7.2 Corporation tax relief - an important negotiating issue -- 7.3 Tax issues arising in respect of share incentive schemes -- 7.4 Roll-over options -- 7.5 Takeover code issues -- 7.6 Administrative and reporting requirements for HMRC-approved schemes -- 7.6.1 Approved CSOPs -- 7.6.2 SAYE schemes -- 7.6.3 SIPs -- 7.6.4 EMIs -- 7.7 Partly paid shares -- 7.8 Disguised remuneration rules326F325F -- 7.9 Employee shareholders and ESS -- 8 VENTURE CAPITAL SCHEMES -- 8.1 The Enterprise investment scheme -- 8.1.1 Background -- 8.1.2 Issuing company requirements332F331F -- 8.1.3 Investor eligibility for relief343F342F -- 8.1.4 No connection with the issuing company347F346F -- 8.1.5 Unpaid directors350F349F. 8.1.6 Investors becoming paid directors ('Business Angels')352F351F. The Tax Schedule explains the underlying rationale of the key provisions of the tax schedule, and provides updated model long-form and short-form warranties and tax indemnities. The purpose of the book is to explain and simplify issues for tax advisors involved in transactions of buying and selling companies and business, enabling negotiations between tax advisors to keep sight of the commercial reality of the transaction (a sale by a willing seller to a willing buyer). The purpose of the tax schedule is to determine where responsibilities and risks will lie following the completion of the transaction, as well as to re-examine a number of so-called 'market practices' Erscheint auch als Druck-Ausgabe Gibson, Eile The Tax Schedule London : Spiramus Press,c2023 9781913507299
spellingShingle	Gibson, Eile The Tax Schedule A Guide to Warranties and Indemnities Intro -- Preface to the fourth edition -- Preface to the first edition -- Acknowledgements -- Online resources -- Table of authorities -- Glossary -- 1 THE TRANSACTIONAL PROCESS -- 1.1 Background issues -- 1.2 Pre-completion clearances -- 1.2.1 CTA 2010, s.1091 - advance clearance relating to a demerger and exempt distribution under CTA 2010 s.1075 -- 1.2.2 TCGA s.138 - advance clearance for an exchange of securities for those in another company under TCGA s.135 -- 1.2.3 TCGA s.138 - advance clearance for a scheme of reconstruction involving issue of securities under TCGA s.136 -- 1.2.4 TCGA s.138 clearance - advance clearance for a reconstruction involving transfer of a business under TCGA s.139 -- 1.2.5 CTA 2009 s.831 - clearance for a transfer of business or trade involving intangible assets under CTA 2009 s.818 -- 1.2.6 FA 1986 s.75 (Acquisition relief for stamp duty) -- 1.2.7 FA 1986 s.77 (Stamp duty relief involving acquisition of target's share capital) -- 1.2.8 CTA 2010 s.748 and ITA s.701 advance clearance - cancellation of tax advantages from certain transactions in securities -- 1.2.9 Clearances/advance assurances for Enterprise Investment Schemes (EIS) -- the Seed Enterprise Investment Scheme (SEIS) -- the Social Investment Tax Relief Scheme (SITR) -- and Venture Capital Trusts (VCT) -- 1.2.10 Non-statutory clearances -- 1.3 Post-completion clearances -- 1.3.1 TCGA s.138A(4A) - election for TCGA s.138A treatment29F28F not to apply -- 1.3.2 TCGA s.162A - election for TCGA s.162 not to apply -- 1.3.3 CTA 2010 s.1092 - advance clearance for chargeable payments -- 1.4 Transactions and clearances with EU dimension -- 1.4.1 TCGA s.140A - transfer or division of UK business - clearance under TCGA s.140B39F38F -- 1.4.2 CTA 2009 s.827 - application for roll-over relief on a cross-border transfer involving intangible fixed assets 1.4.3 TCGA s.140C - transfer or division of non-UK business - clearance under TCGA s.140D -- 1.4.4 Sections 140E and 140F TCGA - merger leaving assets within or outside UK tax charge - clearances under TCGA s.138 -- 1.5 Employee share scheme matters -- 1.6 Buyer's issues -- 1.7 Seller's issues -- 1.8 Negotiating the tax schedule -- 1.8.1 Required background information -- 1.8.2 The purpose of the tax schedule -- 1.8.3 Clarity in the tax schedule -- 1.8.4 Negotiating tactics -- 1.8.5 No conflict with the SPA -- 1.9 Completion issues -- 1.9.1 Option and share scheme matters50F49F -- 1.9.2 Partly-paid shares -- 1.10 Post-completion matters -- 1.10.1 Approved share schemes -- 1.10.2 Roll-over options -- 1.10.3 Reporting for matters relating to options and shares -- 1.10.4 VAT degrouping issues -- 1.10.5 Degrouping and withdrawal of stamp duty land tax relief (SDLT) -- 1.10.6 Post-Completion Clearances -- 2 DUE DILIGENCE -- 2.1 Overview -- 2.2 The buyer's tax due diligence report -- 2.3 The seller's tax due diligence report -- 2.4 The disclosure process -- 2.5 Measuring the risk -- 2.6 Due diligence in the purchase of a business -- 2.7 Tax due diligence in the purchase of a company -- 3 WARRANTIES -- 3.1 Overview -- 3.2 Warranties in due diligence -- 3.3 Disclosures against tax warranties62F61F -- 3.4 Accounts, tax computations and payments -- 3.5 Administration and tax compliance -- 3.6 Advance corporation tax (ACT) -- 3.7 Anti-avoidance -- 3.8 Associated companies -- 3.9 Capital allowances -- 3.10 Chargeable gains -- 3.10.1 Chargeable gains - single corporate entity -- 3.10.2 Chargeable gains - target leaves a group -- 3.10.3 Chargeable gains - target a holding company -- 3.11 Clearances -- 3.12 Close companies -- Close investment-holding companies -- Inheritance tax issues for a close company -- 3.13 The construction industry scheme (CIS) 3.14 Controlled foreign companies (CFC) -- 3.15 Corporation tax -- 3.15.1 Quarterly instalment payment regime -- 3.16 Deferred tax -- 3.17 Demergers and exempt distributions -- 3.18 Disclosure of tax avoidance schemes (DOTAS)106F105F -- 3.19 Distributions and dividends -- 3.20 Dormant companies -- 3.21 Employment-related tax issues -- 3.22 Group issues -- 3.23 Inheritance tax -- 3.24 Insolvency issues -- 3.25 Intellectual property -- 3.26 Land and property issues -- 3.27 Loan relationships -- 3.28 National insurance contributions (NICs) -- 3.29 PAYE -- 3.30 Penalties regime -- 3.31 Research and development (R&amp -- D) -- 3.32 Residency issues -- 3.33 Secondary tax liabilities -- 3.33.1 Company purchased tax avoidance schemes -- 3.33.2 TCGA section 190 - Tax recoverable from another group company (Section 190) -- 3.33.3 Secondary tax liabilities warranties -- 3.34 Self-assessment -- 3.35 Stamp taxes -- 3.35.1 Stamp duty -- 3.35.2 Stamp duty reserve tax (SDRT) -- 3.35.3 Stamp duty land tax (SDLT) -- 3.35.3.1 SDLT anti-avoidance provisions under sections 75A, 75B and 75C FA 2003 -- 3.35.4 SDLT DOTAS -- 3.35.5 Stamp duty and SDLT warranties -- 3.36 Transfer pricing and non-arm's length transactions -- 3.36.1 Transfer pricing warranties -- 3.37 Value added tax and Customs &amp -- Excise -- 3.37.1 VAT -- 3.37.2 VAT DOTAS -- 3.37.3 VAT group issues -- 3.37.4 The capital goods scheme (CGS)204F203F -- 3.38 Value shifting205F204F and depreciatory transactions206F205F -- 4 SALE AND PURCHASE OF A COMPANY -- 4.1 Background issues -- 4.2 Issues for the buyer -- 4.2.1 Valuation -- 4.2.1.1 Trading companies and groups -- 4.2.1.2 Single asset companies -- 4.2.1.3 Investment companies -- 4.2.2 Hive-downs -- 4.2.3 Funding the purchase price -- 4.2.4 Post-completion protections -- 4.3 Taxation issues for the seller -- 4.3.1 Capital gains for individuals 4.3.1.1 Entrepreneurs' relief/business asset disposal relief221F220F -- 4.3.1.2 Investors' Relief -- 4.3.1.3 Inheritance tax -- 4.3.1.4 Reliefs under EIS, SEIS and SITR -- 4.3.2 Chargeable gains for companies -- 4.3.2.1 Substantial shareholdings exemption -- 4.3.2.2 Inter-action of SSE with the corporate venturing scheme (CVS) -- 4.4 Dealing with target's pre-completion debts -- 4.5 Accounts and completion accounts -- 4.6 Structuring the consideration -- 4.6.1 Cash consideration -- 4.6.2 Delayed consideration -- 4.6.3 Shares and securities as consideration (a share for share exchange)245F244F -- 4.6.4 Earn-outs -- 4.6.4.1 Ascertainable consideration -- 4.6.4.2 Instalment payments -- 4.6.4.3 TCGA section 138A (Use of earn-out rights for exchange of securities) -- 4.6.4.4 Marren v Ingles [1980] 2 All ER 95 -- 4.6.4.5 Commercial issues relating to earn-outs -- 5 SALE AND PURCHASE OF A BUSINESS -- 5.1 General overview -- 5.2 Commercial considerations -- 5.2.1 Apportionment of consideration -- 5.2.1.1 Trade related properties -- 5.3 Due diligence -- 5.4 Tax issues -- 5.4.1 Chargeable gains -- 5.4.1.1 Entrepreneurs' relief/ business asset disposal relief264F263F -- 5.4.1.2 Roll-Over Relief for business assets under TCGA s.152 -- 5.4.2 Intangible assets -- 5.4.3 Stamp duty and stamp duty land tax -- 5.4.4 PAYE and employment-related issues -- 5.4.5 Inheritance tax -- 5.5 VAT and transfers as a going concern (TOGC) -- 5.5.1 Transactional issues relating to a TOGC -- 5.5.2 VAT registration issues for a TOGC -- 5.5.3 Requirements of a TOGC -- 5.5.4 TOGCs involving land and buildings -- 5.5.5 Property rental business transferred under a TOGC -- 5.5.6 Assignment of leases -- 5.5.7 Nominee sellers and buyers -- 5.5.7.1 Notice of Agreement -- 5.5.8 VAT records and a TOGC -- 5.5.9 VAT groups and TOGC -- 5.5.10 Seller tax warranties for a TOGC. 5.5.11 Buyer warranties for a TOGC -- 6 SPECIAL SITUATIONS -- 6.1 Insolvencies and administrations -- 6.1.1 Overview -- 6.1.1.1 Administrative receivership -- 6.1.1.2 Creditors' voluntary liquidation ('CVL') -- 6.1.1.3 Members' voluntary liquidation ('MVL') -- 6.1.1.4 Compulsory winding up or liquidation -- 6.1.1.5 Provisional liquidation -- 6.1.1.6 Administration285F284F -- 6.1.1.7 Scheme of arrangement/voluntary arrangement -- 6.1.1.8 Liquidation -- 6.1.1.9 Transactional issues -- 6.1.2 Taxation issues during insolvency proceedings -- 6.1.2.1 Trading losses and profits -- 6.1.2.2 Accounting periods -- 6.1.2.3 Corporation tax -- 6.1.2.4 Ownership of assets and group issues -- 6.1.2.5 VAT299F298F -- 6.1.2.6 New anti-avoidance provisions involving close companies in the Finance (No 2) Bill 2016 -- 6.1.3 Transactional issues -- 6.1.3.1 Hive-down of assets into newco -- 6.1.3.2 Substantial shareholdings exemption as it applies to insolvencies302F301F -- 6.1.4 Pre-packaged administration -- 6.2 The locked box mechanism -- 6.3 Public listings and offerings -- 6.4 Partnerships -- 7 SHARE SCHEME ISSUES -- 7.1 Overview -- 7.2 Corporation tax relief - an important negotiating issue -- 7.3 Tax issues arising in respect of share incentive schemes -- 7.4 Roll-over options -- 7.5 Takeover code issues -- 7.6 Administrative and reporting requirements for HMRC-approved schemes -- 7.6.1 Approved CSOPs -- 7.6.2 SAYE schemes -- 7.6.3 SIPs -- 7.6.4 EMIs -- 7.7 Partly paid shares -- 7.8 Disguised remuneration rules326F325F -- 7.9 Employee shareholders and ESS -- 8 VENTURE CAPITAL SCHEMES -- 8.1 The Enterprise investment scheme -- 8.1.1 Background -- 8.1.2 Issuing company requirements332F331F -- 8.1.3 Investor eligibility for relief343F342F -- 8.1.4 No connection with the issuing company347F346F -- 8.1.5 Unpaid directors350F349F. 8.1.6 Investors becoming paid directors ('Business Angels')352F351F.
title	The Tax Schedule A Guide to Warranties and Indemnities
title_auth	The Tax Schedule A Guide to Warranties and Indemnities
title_exact_search	The Tax Schedule A Guide to Warranties and Indemnities
title_full	The Tax Schedule A Guide to Warranties and Indemnities
title_fullStr	The Tax Schedule A Guide to Warranties and Indemnities
title_full_unstemmed	The Tax Schedule A Guide to Warranties and Indemnities
title_short	The Tax Schedule
title_sort	the tax schedule a guide to warranties and indemnities
title_sub	A Guide to Warranties and Indemnities
work_keys_str_mv	AT gibsoneile thetaxscheduleaguidetowarrantiesandindemnities

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