Andy Newsome Tax Partner Deloitte LLP introduces this special edition focusing on corporate reconstructions
Government figures released in January 2009 confirmed that the UK was officially in recession for the first time since 1991. Unemployment rose to 2.22 million at the end of March 2009 up 592 000 over the year and the insolvency statistics make for some grim reading (see Figure 1).
Figure 1: Liquidation/adminstration statistics
Source: The Insolvency Service
Despite this there are those who have seen the first 'green shoots' of recovery. Economic data seem to indicate a quarterly rate of contraction in GDP for Q2 2009 of around 0.5%. The 1.9% drop in output seen in the first quarter...
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Andy Newsome Tax Partner Deloitte LLP introduces this special edition focusing on corporate reconstructions
Government figures released in January 2009 confirmed that the UK was officially in recession for the first time since 1991. Unemployment rose to 2.22 million at the end of March 2009 up 592 000 over the year and the insolvency statistics make for some grim reading (see Figure 1).
Figure 1: Liquidation/adminstration statistics
Source: The Insolvency Service
Despite this there are those who have seen the first 'green shoots' of recovery. Economic data seem to indicate a quarterly rate of contraction in GDP for Q2 2009 of around 0.5%. The 1.9% drop in output seen in the first quarter...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
