Winding up the business

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Winding up the business by Mind Map: Winding up the business

1. Time to pay arrangements

2. Liquidation - consequences for company

2.1. Beneficial ownership of assets

2.2. Directors' powers

2.3. Tax as expense of winding up

2.4. Accounting periods

2.5. Corporation tax assessments

2.6. Date of commencement

2.7. Chargeable gains

2.8. Trading profits

2.9. Profits arising in fiduciary or representative capacity

2.10. Applicable rate of corporation tax

2.11. Group relief consequences

2.12. Loan relationship connected company impairment losses and release debits

2.13. Substantial shareholding exemption

2.14. Penalties

3. Liquidation - consequences for shareholders

3.1. CGT on liquidation distribution

3.2. Compare with income dividend followed by striking-off

4. Receiverships

5. Administration

5.1. Beneficial ownership of assets

5.2. Tax as an expense of administration

5.3. Accounting periods

5.4. Corporation tax assessments

5.5. Applicable rate of corporation tax

5.6. Group relief consequences