Tax strategies for COVID-19 distressed owner-managed businesses
We have been living though the most challenging economic times of our lives. Huge swathes of owner-managed businesses have been savaged by the coronavirus pandemic ('COVID-19').
Various UK and other Government measures, such as social distancing, lockdown and furloughing employees, have taken a huge toll on consumer demand, business supply chains and finances. Furthermore, the unprecedented nature of COVID-19 and its inherent uncertainty has also damaged commercial confidence, which may take some years to be regained.
In this Tax Digest
- COVID-19's financial impact on OMBs
- Business and tax strategies for improving liquidity
- Dealing with the Job Retention Scheme
- Debt restructuring and waiver of inter-company debt between group companies
- Debt for equity swaps
- Distressed business sales and hive-downs
- Owner-manager's retirement from business