The Tax Schedule: A Guide to Tax Warranties and Indemnities 3rd Edition

This book explains the underlying rationale of the key provisions of the tax schedule, and provides updated model long-form and short-form warranties and tax indemnities. These are also included on a disk, so that practitioners can download and adapt the model documents.

The book has been updated to include provisions in the Finance Act 2015. Employment-related securities section updated, there is new guidance on the Social Investment Tax Relief Scheme (SITR) and changes to reflect changes to HMRC treatment of ESC D33.

However, the purpose of the book remains unchanged, which is to explain and hopefully simplify issues for tax advisors involved in transactions of buying and selling companies and business. The negotiations between tax advisors lined up against each other on the sale of a company or business can sometimes become so complex that the commercial reality of the transaction (a sale by a willing seller to a willing buyer) is lost. The purpose of the tax schedule is to determine where responsibilities and risks will lie following the completion of the transaction, as well as to re-examine a number of so-called ‘market practices’.

The book explains the underlying rationale of the key provisions of the tax schedule, and provides updated model long-form and short-form warranties and tax indemnities. These are also included on a disk, so that practitioners can download and adapt the model documents for their own transactions.

The intended readership of the book is tax lawyers, tax accountants, corporate lawyers, corporate advisors and finance directors who are involved in the process of the sale of a company.