What are the tax implications? The question often arises when legal advice is taken or contracts are drafted. This issue is central to how the contract is structured and negotiated on the purchase of any business.
Audits are becoming ever more complex, even for small and medium sized companies; these often can involve not only the disallowance of expenditure but also the tax treatment of pension commitments being scrutinised with far-reaching consequences for the company and its shareholders. We advise you on the audit process in order to protect you from adverse consequences and claims by the auditors.
Liability of Directors and Board Members
Directors and board members are subject to more intense scrutiny from the finance authorities than ever before when it comes to liability for taxes that the company is unable to pay. Criminal liability can quickly arise alongside financial liability if there is a failure to scrutinise behaviour.