Guidance for insolvency practitioners to help their clients restructure their companys finances using a debt restructuring scheme or plan.
If you are an insolvency practitioner working with a company in financial difficulty, HMRC offers support in certain circumstances to help your clients restructure their finances.
Under parts 26 or 26A of the Companies Act 2006, companies can seek court, shareholder and creditor approval for a debt restructuring scheme or plan also known as a scheme of arrangement or a part 26A restructuring plan.
When will HMRC offe…
Read the full article at: https://www.gov.uk/guidance/using-debt-management-schemes-to-restructure-a-companys-finances