This book has been updated to include provisions in both the UK's Finance Act 2012 and Finance Act 2013. Some changes to the employment-related securities regime have been introduced since the first edition, thanks to the UK's Office of Tax Simplification, as has the Small Enterprise Investment Regime (SEIS). However, the purpose of the book remains unchanged, which is to explain and simplify issues for tax advisors involved in transactions of buying and selling companies and business. The negotiations between tax advisors lined up against each other on the sale of a company or business can sometimes become so complex that the commercial reality of the transaction (a sale by a willing seller to a willing buyer) is lost. The purpose of the tax schedule is to determine where responsibilities and risks will lie following the completion of the transaction, as well as to re-examine a number of so-called 'market practices.' The book explains the underlying rationale of the key provisions of the tax schedule, and provides updated model long-form and short-form warranties and tax indemnities. These are also included on a CD-ROM, so that practitioners can download and adapt the model documents for their own transactions. The intended readership of the book includes tax lawyers, tax accountants, corporate lawyers, corporate advisors, and finance directors who are involved in the process of the sale of a company.