Taxation and insolvency book gives help amid downturn
A new book aimed at tackling the key issues currently facing businesses in the wake of the property and financial crash has been launched in Belfast.
Published by Chartered Accountants Ireland, 'The Tax Implications of Business Recovery and Insolvency in Ireland, Northern Ireland and the UK' is a reference guide to taxation and insolvency on the island of Ireland, north and south.
The book is written by Paddy Harty and Alison Burnside, both of FPM Accountants LLP.
Finance Minister Simon Hamilton spoke at the launch of the book, which he said was the "first of its kind".
"Recent results from both Ulster Bank and Danske Bank have recorded rises in business activity and a growth in consumer confidence," he said.
"The content of this book provides a single reference guide to taxation and insolvency issues and is an innovative way of reaching out to those seeking advice on what is a very complex subject.
"Providing guidance on how to deal with these issues will be of assistance to both businesses and practitioners."
Mr Harty said there were considerable differences between the neighbouring jurisdictions in areas such as VAT and corporation tax in corporate situations, particularly with regard to property.
"Cross-border treatment of personal tax issues in areas such as loans, guarantees and investment are also very different," he said.
"These differences create real difficulties for businesses and business advisers."
Co-author Alison Burnside added that the book offered practical examples which people could easily relate to, and guidance on how businesses and advisers could approach difficult issues.