Tax Guide - Extra Statutory Concession C16 and Company Dissolutions - 16th Edition - May 2011
It is often the case that old unwanted companies are removed from the Companies House Register under Section 652 Companies 1985 (from 1 October 2009 - Section 1003 Companies Act 2006). Advantageous tax treatment is available under Extra Statutory Concession C16 which is not always straightforward to apply (and is currently under review by HMRC). The guide gives details on how to use the concession, pitfalls to avoid, the problems of unallocated assets being claimed by the Crown, the issue of redeeming paid up share capital, including the recently introduced Companies Act 2006 provisions, together with a comprehensive analysis of the tax implications and tax planning opportunities of a company dissolution for the company itself and its shareholder directors.
Author: DTE Tax
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