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As part of the UK200 Group (the UK’s leading association of independent chartered accountants and law firms) our experts here at Knill James are regularly asked to write on specialised topics in relation to the Finance sector. Here in UK200’s latest post Mike Chapman, our Senior Manager in Corporate Tax, explores the lack of clarity surrounding distributions in a winding up.
“The 2016 Finance Act introduced a new Targeted Anti-Avoidance Rule (TAAR) in respect of the tax treatment of company distribution in a company winding up which potentially has far-reaching consequences for shareholders. Where the TAAR applies, liquidation distributions will be treated as income in the hands of shareholders rather than, as used to be the case, a distribution of capital.”
To read the blog in full please visit UK200GroupBlog.