When undergoing a restructuring, a borrower/officeholder’s main focus is often the company’s lenders. However, there are occasions when HMRC’s agreement can be just as key to ensuring any process runs smoothly. In this article, Sonia Jordan and Hayley Çapani discuss some key areas where HMRC’s agreement is essential to ensuring a smooth restructuring or insolvency process.
Pre-insolvency
As a general point, the sooner the borrower engages with HMRC the better. HMRC will often agree a time […]

The German Fiscal Code provides for the possibility of a voluntary self-disclosure of tax evasion. Taxpayers are able to correct or complete their own incorrect tax returns or furnish relevant information previously omitted. In such cases, the taxpayer will be exempt from criminal prosecution for tax evasion in respect of those previously incorrect, incomplete, or omitted particulars. As a consequence of the ongoing media coverage on prominent tax evaders in Germany, Bundestag and Bundesrat […]