Procedure
Our operational procedure expertise supports insolvency administrators, trustees, or debtors in self-administration in compliance activities, including preparing annual financial statements and tax returns. With our many years of experience, we also provide support in securing values for the company and its creditors.
Inhouse Support Finance
Taxes during insolvency
Insolvency proceedings require qualified tax support from the very beginning. If an insolvency is imminent, in addition to attempting to restructure the company it is essential to prepare a possible insolvency proceeding and avoid (tax) liability risks. During insolvency proceedings, the structuring of insolvency plans as well as the execution of regular insolvency proceedings require specific tax know-how. We have extensive experience in complex and demanding insolvency proceedings.
- Tax structuring of insolvency plans, including coordination with the tax authorities and obtaining binding rulings
- Tax structuring in the liquidation of national and international group structures
- Preparation of ongoing tax returns in insolvency proceedings
- Determination of value added tax (VAT) adjustments and assistance in special value added tax (VAT) audits
Accounting in insolvency
Accounting and preparing annual financial statements for insolvent companies are usually costly and complex. In many cases, the persons with knowledge have left the insolvent company, and the documents are incomplete or cannot be found. At Gläser & Gehrmann, we have an extensive experience and the willingness, even in difficult data situations, to successfully prepare the annual financial statements of the insolvent company and map out the unique features of insolvency law in accounting terms.
- Preparation of financial statements
- Continuation and takeover of statutory financial accounting
- Preparation of statutory adjustment entries following the discontinuation of the going concern assumption
- Upholding of financial processes
- Reporting of statistical data to the Bundesbank
- Contact person for auditors
Procedural support
The execution of larger insolvency proceedings often requires a high level of operational activities. At Gläser & Gehrmann, we support insolvency administrators, trustees, and debtors in self-administration in securing assets and assessing facts and circumstances for a legal assessment.
- Support the insolvency administrator in securing assets
- Verification of insolvency claims
- Support for the insolvency administrator in the assessment of facts and circumstances
We accompany proceedings.
Securing value for the company and its creditors requires experience. Let us have a conversation about the current situation.
Gläser & Gehrmann GmbH
Steuerberatungsgesellschaft
Caffamacherreihe 8, 20355 Hamburg
Firm
Finance
Tax
Restructuring
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