UK Tax Podcast
Hello, I am John Kavanagh, and this is the UK Tax Podcast, bringing you updates, information, and opinion about the most interesting topics and latest developments in UK tax. These podcasts are not intended as a substitute for professional advice, but hopefully, they will educate and entertain and give some useful pointers.
UK Tax Podcast
Tax Risks of Liquidation Distributions – Navigating the TAAR
In this episode of The UK Tax Podcast, John Kavanagh, Chartered Tax Adviser, examines the risks of distributions in a liquidation being taxed as income rather than capital under the Targeted Anti-Avoidance Rule (TAAR). With no binding case law and limited guidance from HMRC, this is a highly uncertain area, particularly where individuals resume similar business activities after a winding up. John explains how the TAAR operates, the importance of Conditions C and D, and why securing Business Asset Disposal Relief (BADR) can be far from straightforward. Essential listening for advisers and business owners considering company liquidation.
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