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Interesting times for company voluntary arrangements

Shared from Tax Insider: Interesting times for company voluntary arrangements
By Ken Moody CTA, November 2021

Ken Moody highlights his recent experience of advising on a company voluntary arrangement. 

I was recently instructed to advise on the tax consequences of company voluntary arrangements (CVAs), which have continued to increase in popularity in recent times, and the results were quite interesting 

The use of CVAs and court sanctioned schemes of arrangement for restructuring the debts of a company in financial difficulties, may lead to better outcomes for the company and its creditors as an alternative to formal insolvency procedures.  

Companies and LLPs 

As it happens, the ‘company’ in difficulty was a limited liability partnership (LLP) which, of course, is a corporate body under the Companies Act. However, whereas companies are subject to the loan

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