Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

The full-time whistle

20 April 2010 / Maria Kitt
Issue: 4251 / Categories: Comment & Analysis , Business , Income Tax
MARIA KITT considers the potential tax implications when a business is wound up


  • The need for a sound tax planning strategy.
  • Poor compliance can result in HMRC action.
  • Key capital gains tax mitigation.
  • Each alternative has unique tax issues.
  • Poor management including management of tax liabilities is a common cause of business failure.

At the time of writing Andrew Andronikou the administrator appointed to manage the affairs of Portsmouth Football Club which is reportedly more than £70 million in debt has been given the all-clear by the courts to proceed with the completion of the club’s administration.

This followed a winding-up order and subsequent legal challenge by HMRC into the bona fides of the club’s statements of its financial affairs in the High Court.

Mr Andronikou is...

If you or your firm subscribes to, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or '' for further assistance.

back to top icon