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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
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I would like some advice on is on Capital Gains Tax, more
I would like some advice on is on Capital Gains Tax, more specifically, the 10% Entrepreneurs' Relief option. In May 2015, I sold part of my business, which was a website. The total sale value was $29… read more
Sam
Sam
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Higher Officer HMRC
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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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Hi I used to be a Residential Care Home proprietor for about
Hi I used to be a Residential Care Home proprietor for about 20 years, but also worked full time for the NHS, while my wife was employed as the Manager. The Business had two partners, myself and am el… read more
TaxVince
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Ive become a profitable forex trader in the last 14 months.
I've become a profitable forex trader in the last 14 months. As of this year it is my only job. What kind of tax am I be liable for? I assume it's capital gains, but it's not very clear whether I'd ne… read more
Sam
Sam
Accountant
Higher Officer HMRC
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I am looking to develop new and renovate existing properties
I am looking to develop new and renovate existing properties in the UK. Some of these properties will then be held as investment properties with most being sold. I also wish to do the majority of prop… read more
Sam
Sam
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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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Higher Officer HMRC
6,759 satisfied customers
I have a client who wants to develop an old warehouse into
I have a client who wants to develop an old warehouse into flats. He is a sole trader and the property is currently on the balance sheet and used for storage of stock. If we put his sole trader into a… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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My wife is a self employed Consultant. She is VAT registered.
My wife is a self employed Consultant. She is VAT registered. Her 2010/11 net profit was £76k and her 2011/12 net profit is likely to be around £85k.Overall income is around £100k plus VAT. Would she … read more
Tony Tax
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I am about to start as a full time trader and I like to know
I am about to start as a full time trader and I like to know if it is better for me to go as self employed or set up a company and trade under that company. What are the advantages and disadvantages o… read more
mark25551
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Mark I assume that it is flexible to move from a sole trader
Mark I assume that it is flexible to move from a sole trader to a Ltd anytime in the future? ie the process is simple… read more
mark25551
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ACCA
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1) I want to set up a website. Chances are it will not make
1) I want to set up a website. Chances are it will not make any money. Is there any way I can offset the loss I make against my income tax? I do not want to set up a limited company at the outset due … read more
Sam
Sam
Accountant
Higher Officer HMRC
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Could you please clarify the tax rules on Goodwill for me as
Could you please clarify the tax rules on Goodwill for me as I believe they have now changed and I wanted to make sure I am correct. In the past I believe Goodwill was not allowable for tax purposes, … read more
CCTax
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Two sole traders have formed a limited company, both have sold
Two sole traders have formed a limited company, both have "sold" their vehicles to the company at the tax written down value. Can they claim AIA on the "purchase" of the vehicles or does the 20% capit… read more
TEAP007
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if i sell my business in the u.k and emigrate to southern ireland
if i sell my business in the u.k and emigrate to southern ireland am i exempt from capital gaing tax in the u.k… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,759 satisfied customers
I am newly redundant and am thinking of purchasing a property
I am newly redundant and am thinking of purchasing a property for renovation and selling on - in a sole trader capacity. My husband is already self employed in a diff line of work. In order to purhcas… read more
Sam
Sam
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Higher Officer HMRC
6,759 satisfied customers
Hi I am transfering a sole trader business to a limited
Hi I am transfering a sole trader business to a limited company. When I transfer the net assets is the other entry to the directors loan account? Is there a capital gain on the sole trader on transfer… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 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
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