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I have a self-employment tax question on cessation of
Hi Tony, I have a self-employment tax question on cessation of business can you assist me please, thank you , Les… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,460 satisfied customers
Its not social security its accounting, I need to calculate
I need to calculate overlap relief on cessation of my business … read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,460 satisfied customers
Tony, You dealt with a question of mine on 6.1.2016
Hi Tony, You dealt with a question of mine on 6.1.2016 regarding a new partner to a business. I need to calculate basis periods and overlap profits. The new partner commenced 23.2.2015, the accounting… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I ceased self-employment 05/04/14 following losses years I
I ceased self-employment 05/04/14 following losses for 5 years I have claimed bacxk the losses against earlier tax years but having ceased trading april 2014 I have a £38k overlap profit I owe PAYE & … read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,460 satisfied customers
Hi Tony Tax, a question re cessation on 31/7/13. I am reviewing
Hi Tony Tax, a question re cessation on 31/7/13. I am reviewing a subcontractor's work and my client has ceased trading and supplied records up until 31/7/13 when they ceased - probably more correctly… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi Tax consultants, these are questions about Basis Periods
Hi Tax consultants, these are questions about Basis Periods & cessation. I have a client whose tax year normally ends on 28th Feb. He ceased trading (retired) at the end of May 2013, so I have extende… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
I am completing my 2012 tax return and have ceased trading
Hi i am completing my 2012 tax return and have ceased trading on 31/01/12. I have prepared my accounts to 30 April each year. Accounts for the period 01/05/10 to 31/01/12(cessation) sow losses adjuste… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
Hi, my question is concerning overlap relief. I have inherited
Hi, my question is concerning overlap relief. I have inherited a client - partnership they started trading on 1 June 1996 & have a y/e of 31 May. The previous accountant has carried forward the overla… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
I have a Client with a sole director Ltd co, she will cease
I have a Client with a sole director Ltd co, she will cease trading next year and retire. The business has a small fixed asset balance and a goodwill balance, it is solvent and she is simply wanting t… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi, My client ceased trading,retired, 30 September 2011.Date
Hi, My client ceased trading,retired, 30 September 2011.Date of Birth19.9.1946.The accounting year end is 30 April each year. I am completing the 2012 Tax Return.The accounts to 30.4.2011 show a taxab… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi, good morning. My client has started up in business as
Hi, good morning. My client has started up in business as a Driving Instructor. Please could you tell me if the costs of qualifying as a driving instructor are a tax allowable deduction from the incom… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi My son is a solicitor and his and the practices year end
Hi My son is a solicitor and his and the practices' year end is 31 July His partner died on 29/8/10 and instead of the accounts being prepared to 31/7/10 they are being prepared to the 29/8/10 the dat… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
My client ceased trading as a childminder on 22.10.2010. The
My client ceased trading as a childminder on 22.10.2010. The accounting year end is 30th.April. I would be grateful if you will let me know the final tax assessments. The profits and capital allowance… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
A COMMENCED BUSINESS IN 1980. B BECAME PARTNER 01.04.1998.
A COMMENCED BUSINESS IN 1980. B BECAME PARTNER 01.04.1998. C BECAME PARTNER 01.11.2001. RELEVANT PROFITS WERE AS FOLLOWS NET OF CAPITAL ALLOWAMCES: Y/E 31.10.1997 50398 A 50398 Y/E 31.10.1998 50851 A … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
HOW DO I WORK OUT MY PROFIT FOR 2010/11 , THE BUSINESS CEASED
HOW DO I WORK OUT MY PROFIT FOR 2010/11 , THE BUSINESS CEASED ON 31 MARCH 2011. MY PROFITS TO 15 JULY 1997 WERE £14173 - I UNDERSTAND THAT THIS IS RELEVANT. MY PROFITS TO 15 JULY 2009 WERE £57297 AND … read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Sir/Madam Good evening. I have a client who commenced self
Sir/Madam Good evening. I have a client who commenced self employment in November, 1993 and ceased trading on 30.4.2009. I am looking at claiming Overlap Profit Relief on cessation and carrying back t… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi Sam, You have helpfully answered tax questions for me recently
Hi Sam, You have helpfully answered tax questions for me recently - I have another. In the current tax year (10/11) I will have used a hire car in April, and have been using my own car since May. I in… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,885 satisfied customers
If partnership accounting date is 15th April and a partner
If partnership accounting date is 15th April and a partner dies on 23.12.06 how are 2006/07 and 2007/08 assessed - remaining person will continue trading as a sole trader with same acc reference date … read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
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