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Related UK Tax Questions
Please, if I sell my Sole Trading business to my LTD this
HelloPlease, if I sell my Sole Trading business to my LTD this year, when should I record capital gains tax? Is it in Self Assessment 2020/21 then - so Incorporation tax relief will apply? And How to … read more
Michael Koppel
Michael Koppel
Senior Tax Associate
Bachelor's Degree
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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
Accountant and Tax Practitioner
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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
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
Tax Consultant
High School or GED
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HI SAM. IS IT CORRECT THAT GOODWILL AMORTISATION CAN BE OFFSET
HI SAM. IS IT CORRECT THAT GOODWILL AMORTISATION CAN BE OFFSET AGAINST CORPORATION TAX? GOODWILL CALCULATION COMPLETED BY MY ACCOUNTANT WHEN I CONVERTED FROM SELF EMPLOYED TO LTD CO IN 2013.… 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
Accountant
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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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Hello As a company limited in the UK - to avoid paying UK
Hello As a company limited in the UK - to avoid paying UK tax legally - I transfer all of the profits to the US via PayPal USA business account where the US company name is XXXXX XXXXX PayPal and then… read more
mark25551
mark25551
Audit & Accounts Manager
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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
Tax Consultant
High School or GED
16,712 satisfied customers
Hello Between 2002 and 2007 I ran my business as a sole
Hello Between 2002 and 2007 I ran my business as a sole trader in 2007 for various reasons I decided to set up a Ltd company One of the reasons was I wanted to give a key employee a share of the busin… read more
TEAP007
TEAP007
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Fully Trained Inspector of Taxes B1
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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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I have not declared any trading (stocks) activities in previous
I have not declared any trading (stocks) activities in previous Self Assessment Tax Returns since 2005. If all my stocks were sold now, position should be at a slight gain. I was unemployed from begin… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I was made redundant on 24th May this year and I am shortly
I was made redundant on 24th May this year and I am shortly to start trading on a self employed basis. I require advice on the most preferable trading options from a tax perspective, e.g. sole trader … read more
Tony Tax
Tony Tax
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High School or GED
16,712 satisfied customers
Plain Plurasonics Ltd is a UK resident company which manufactures
Plain Plurasonics Ltd is a UK resident company which manufactures accessories for specialist electronic systems. It has no associated companies. The company's results for the year ended 31 March 2010 … read more
Sarah G
Sarah G
Consultant tax lawyer
Master's Degree
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Hi my husband went from being a sole trader to a ltd co in
Hi my husband went from being a sole trader to a ltd co in dec 09 we have a tax bill saying we owe 16,000 for this year 2010 even though he has caesed trading as a sole trader and now is paying compan… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I might be facing a VERY large CGT bill from AIM FI oil exploration
I might be facing a VERY large CGT bill from AIM FI oil exploration shares . Is there a legal way to defer CGT by for example creating a limited company and then purchasing a business with reference t… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
I intend to sell my dental practice along with the building
I intend to sell my dental practice along with the building in which the business solely exists. The building is valued at 250K with the goodwill 270K and equiptment at 20K. Is there a benefit to tryi… read more
TEAP007
TEAP007
Tax Preparer
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