The complexity of consolidation remains a critical issue for small business tax practitioners, however advisers are obliged to ensure that their SME clients have information to make informed decisions about consolidation. This paper examines the issues going forward and provides guidance on the steps to undertake in entering the consolidation regime and the lessons learned from those who have elected to consolidate, including:
- what it means after the transition
- CGT events
- tax sharing agreements and risks
- due diligence issues
- planning opportunities
- traps and tips.