Overview

Finance and insolvency is a constantly evolving market. Our specialist team of tax lawyers are well-known for their strategic thinking and commitment to understanding the changes and reacting to our clients’ needs accordingly.

We advise banks, companies and funds on the tax implications all types of financing arrangements and insolvency law, including acquisition finance, real estate finance, thin capitalisation, asset finance and Islamic finance.

We also work as part of the wider restructuring and insolvency team to advise clients on the tax aspects of all financing arrangements, including debt restructuring insolvencies and liquidations.

Areas of focus

Our tax expertise in this area includes tax advice relating to the following:

  • Acquisition finance.
  • Real estate finance.
  • Financing and refinancing acquisitions including interest deductibility and withholding tax issues.
  • Asset finance.
  • Leasing transactions.
  • Islamic finance.
  • Debt restructuring.
  • Law of Property Act receiverships.
  • Treaty relief, passporting, and other issues associated with gross up in lending documents.
  • FATCA.
Experience

Advising a major bank on the tax implications of unwinding complex finance leasing structures.

Acting for a UK bank in respect of the reorganisation of its debt in a UK group and the acquisition of an equity interest, including on the structure of an exit fee and a potential debt for equity swap.

Advising the administrators on the reorganisation of a number of property owning companies in which the legal and beneficial ownership of the properties was split, including the effect of the administration on the grouping of the companies for VAT, SDLT and corporation tax purposes.

Preparing a report for a major bank to advise on the tax implications of unwinding certain complex finance leasing structures.

Advising investors who were providing funding for an international group of companies on the likely impact of certain tax issues (including significant ongoing disputes with the tax authorities) in relation to previous financing arrangements and derivatives.

Structuring a pre-pack administration to allow tax losses to be carried forward and set against future profits of the business.

Advice on the liability and responsibility of LPA receivers in connection with the VAT treatment on the sale of property in respect of which it is not clear whether or not the property is opted to tax and/or the company is registered for VAT.

Advising on the acquisition of a number of hotels from a group of companies in administration, including VAT (transfer of a going concern and grouping) and SDLT issues and capital allowances.

Advising on the application of the non-resident landlord scheme to a receiver when a rental assignment had been perfected.

Meet the team
Nigel Popplewell

Nigel Popplewell Partner

  • Corporate Tax
  • Tax
  • Real Estate Tax
Ian Carnochan

Ian Carnochan Legal Director

  • Mergers and Acquisitions Tax
  • Finance and Insolvency Tax
  • Real Estate Tax