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Related UK Tax Questions
My friend would like to change from sole trading to Ltd, is
HelloMy friend would like to change from sole trading to Ltd, is there any way how to do this in the tax most optimal way (selling sole trading to Ltd) ...? Thank you… read more
taxadvisor.uk
taxadvisor.uk
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I havent got SS question? I am a sole trader financial
I am a sole trader financial adviser, I sold a number of clients and their trail income to my limited company in Feb 2015. How do I treat this in Ltd co accounts? Can I claim for them as an intangible asset and amortise them … read more
taxadvisor.uk
taxadvisor.uk
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My client purchased business & property in 2004. 'nss in Ltd
my client purchased business & property in 2004. B'nss in Ltd Co cost G'will £350k, F&F £50k and Property purchased by directors ptey £800k...total Cost £1.2m. The HMRC had after a long negotiation ha… read more
bigduckontax
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Hi Tony, my question is regarding Annual Investment Allowance.
Hi Tony, my question is regarding Annual Investment Allowance. Client bought a £10k asset in July 13 as a sole trader and on 31 August 13 ceased trading as a sole trader and transferred her assets to … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Hi, I have a question regarding goodwill and the entry of
Hi, I have a question regarding goodwill and the entry of figures in to the balance sheet of the CT600. We are amortising £250K over 10 years and this means that the Goodwill (intangible assets) are r… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
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Hi Tony, a goodwill amortisation question. A soletrader started
Hi Tony, a goodwill amortisation question. A soletrader started in business in 1997, had good times & bad. He incorporated a Ltd company in Nov 2010 & started trading in Jan 2011. The goodwill was cal… read more
Tony Tax
Tony Tax
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High School or GED
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Dear XXXXX I have a client who has traded as a sole trader
Dear XXXXX I have a client who has traded as a sole trader who has converted to a limited company. I understand that the sole trader business can be valued and the valuation treated as goodwill in the… read more
bigduckontax
bigduckontax
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When is goodwill tax deductible? I have never dealt with it
When is goodwill tax deductible? I have never dealt with it before and the rules seem incredibly complex and vague. I have a client that was advised to take £170k goodwill out of his company which he … read more
Sam Pathak
Sam Pathak
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Master's Degree
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I AM CONVERTING MY SELF EMPLOYED BUSINESS TO A LTD CO. MY
I AM CONVERTING MY SELF EMPLOYED BUSINESS TO A LTD CO. MY ACCOUNTANT HAS IDENTIFIED GOODWILL OF £18K THAT ARISES AT THE DATE OF TRANSFER AND ADVISES THAT THIS WILL BE CREDITED TO MY DIRECTORS LOAN ACC… read more
Tony Tax
Tony Tax
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High School or GED
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what are the capital gains implications of changing from a
what are the capital gains implications of changing from a sole trader to a limited company.… read more
taxonomy12
taxonomy12
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How can goodwill be calculated on a consultant surgeons practice
How can goodwill be calculated on a consultant surgeon's practice who is self-employed, works in full-time private practice and has no NHS salary?… read more
TaxVince
TaxVince
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F.A.O. SamTax please We have a client who is a sole trader.
F.A.O. SamTax please We have a client who is a sole trader. In 2010/11 he purchased a van on hire purchase on which he has claimed 100% A.I.A. The written down value of the van for accounting purposes… read more
Sam
Sam
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My brother has been in business for 2 years, manufacturing
My brother has been in business for 2 years, manufacturing furniture. The business is now earning turnover of 100k and profit of 60k, such that I think he would benefit from incorporation as a limited… read more
Tony Tax
Tony Tax
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High School or GED
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Hello, I hope someone can put my mind to rest. 1. I am
Hello, I hope someone can put my mind to rest. 1. I am in the middle of submitting the SA for a self employed builder. He puchased a van and tools in 2009/2010 which I did not claim on SA for 09/10 ,b… read more
mark25551
mark25551
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WHAT JUSTIFICATION IS THERE FOR ATTACHING A GOODWILL VALUATION
WHAT JUSTIFICATION IS THERE FOR ATTACHING A GOODWILL VALUATION TO A BUSINESS BEING TRANSFERRED FROM A SOLE TRADER TO A LTD COMPANY. BUSINESS HAS BEEN GOING FOR THREE YEARS WITH TAXABLE PROFITS OF £18K… read more
TEAP007
TEAP007
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VAT QUESTION. HAVING BOUGHT INTO A FRANCHISE, THE FRANCHISEE
VAT QUESTION. HAVING BOUGHT INTO A FRANCHISE, THE FRANCHISEE TRAVELS TO THE FRANCHISORS HEAD OFFICE FOR THREE WEEKS OF TRAINING. IS VAT DEDUCTIBLE ON REASONABLE MEALS AND EXPENSES COSTS?… read more
Sam
Sam
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Higher Officer HMRC
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I bought my business from someone on the goodwill that I will
I bought my business from someone on the goodwill that I will pay him the value of purchase of the business over a few years as I made some money from the business as I did not have the cash/loan to p… read more
Tony Tax
Tony Tax
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High School or GED
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Can you please confirm the position on Capital Allowance on
Can you please confirm the position on Capital Allowance on the following expenditure: 1. Purchasing a "Franchise Agreement". I am considering purchasing a business which will be charged as: Franchise… read more
Tony Tax
Tony Tax
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