Press Release
15 February 2010 | TMA (UK) URGES CAUTION OVER TAX DEFERMENT POLICY
Britain’s turnaround and recovery management professionals are urging all three parties to tread carefully over the ending of “time to pay” arrangements after the General Election, or run the risk of sparking a new surge of insolvencies.
The Government’s £4.8bn scheme has so far helped 160,000 businesses employing 1.2 million workers. And in a letter sent to Alistair Darling, George Osborne, and Vince Cable, TMA (UK) President Bryan Green, CEO of Gordon Brothers Europe, says that turnaround professionals with day-to-day hands-on experience of nursing distressed businesses through the downturn agree that all too often it’s only the tax deferment option that stands between their clients and insolvency.