Insolvency: Tax Havens
(asked on 16th June 2020) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what assessment they have made of the use of pre-pack administrations by businesses that have previously extracted large dividends through subsidiaries based in tax havens.
Answered by
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
There has been no assessment by Government of the use of pre-pack administrations by businesses that have previously extracted large dividends through subsidiaries based in tax havens.
The Insolvency Service has, however, carried out an assessment of the impact of voluntary measures introduced in 2015 to improve transparency and confidence in pre-pack sales in administration. The findings will be published in due course.