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Related UK Tax Questions
Would like to ask, if person sells his Sole Trading business
HelloWould like to ask, if person sells his Sole Trading business to LTD for example for £100 000, then does his LTD needs to pay any Corporation Tax , and does he needs to pay any dividends tax in fi… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,342 satisfied customers
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
2,168 satisfied customers
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
bigduckontax
Accountant
FCCA FCMA CGMA ACG
1,342 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
2,168 satisfied customers
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
7,089 satisfied customers
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
FCCA FCMA CGMA ACG
1,342 satisfied customers
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
Chartered Tax Adviser
Master's Degree
468 satisfied customers
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
Tax Consultant
High School or GED
7,089 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
7,089 satisfied customers
the Hmrc has rejected my good will amortisation in my Retun
the Hmrc has rejected my good will amortisation in my Retun for Y/E 31/03 using the case Greenbank holidays V HMRC commisioners 2011 UKTB11 I have one more year to amortise. I converted the Business t… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
Can you give me an understanding of Goodwill on incorporation,
Can you give me an understanding of 'Goodwill on incorporation', please? And where best can I read up about this? Thank you.… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
Hello, need some help please: Computations for Short CT600
Hello, need some help please: Computations for Short CT600 Return 1st year trading of company, goodwill bought from 3rd party, market value of company decreased so w/o goodwill within the 1st year. On… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
I am looking at purchasing a business where the price will
I am looking at purchasing a business where the price will involve significant (for me) goodwill. That business is a sole trader; I am a small ltd co. Looking at the tax implications, am I right in as… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
Two part question 1. How does one deal with Goodwill in the
Two part question 1. How does one deal with Goodwill in the accounts 2. How does one deal with Lease property in accounts?… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
2,168 satisfied customers
Could you help me with several questions regarding a partnership
Could you help me with several questions regarding a partnership incorporating? Pertinent facts:- Partnership formed 1984. Two partners 80%/20% split Goodwill can be valued at £1,000,000 – profits for… read more
CCTax
CCTax
Bachelor's Degree
324 satisfied customers
Hi. I have recently sold my business. (Assets & trading etc
Hi. I have recently sold my business. (Assets & trading etc I still have the Ltd co) how do I record the transaction in the company accounts? Thanks… read more
Sam Pathak
Sam Pathak
Chartered Tax Adviser
Master's Degree
468 satisfied customers
I have recently incorporated my Sole Trade (Jan 2010), I bought
I have recently incorporated my Sole Trade (Jan 2010), I bought the original Goodwill for £20k in 2008 and it is now £60k (amount used for Ltd Co setup). Do I have to report any Capital Gains on my Se… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
7,089 satisfied customers
What are the cases supporting transferable goodwill which is
What are the cases supporting transferable goodwill which is recognised as a tangible asset. I am looking for a parallel where a franchise sole trader sold to a limited company newly formed to tae ove… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
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