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Related UK Tax Questions
I want to know can I claim a tax relief on the purchase of
HelloI want to know can I claim a tax relief on the purchase of goodwill in a ltd company? Can I claim tax relief on the loss on sale of goodwill ?… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
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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
2,176 satisfied customers
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
16,712 satisfied customers
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
Tax Consultant
High School or GED
16,712 satisfied customers
I ceased trading in 2011 and made a loss in that year. Please
I ceased trading in 2011 and made a loss in that year. Please could you tell me what I put in this section You have said that you made income tax losses in the tax year 2011-12. Please complete the fo… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
Hi My son purchased a small business for £15,000 with a loan
Hi My son purchased a small business for £15,000 with a loan of the same amount. The consideration was £3000 for Plant and equipment and £12,000 for goodwill. Is he able to claim tax allowances for th… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 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
16,712 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
Hi, my question concerns amortisation of goodwill. We have
Hi, my question concerns amortisation of goodwill. We have a Ltd Company which was formerly a Partnership and on the advice of an accountant, independently valued goodwill of £250K was realised upon t… read more
mark25551
mark25551
Audit & Accounts Manager
ACCA
197 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
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
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
Audit & Accounts Manager
ACCA
197 satisfied customers
A friend of mine is running a small business and wishes to
A friend of mine is running a small business and wishes to incorporate. I understand that he can transfer the business to a limited company with a valued goodwill. The consideration can be left on a l… read more
mark25551
mark25551
Audit & Accounts Manager
ACCA
197 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
36 satisfied customers
Is there capital allowances on purchased goodwill for limited
Is there capital allowances on purchased goodwill for limited company, and if so availabe since when this rule started ? if no capital allowances is available what other tax relief is allowed for purc… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 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
16,712 satisfied customers
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
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
Tax Consultant
High School or GED
16,712 satisfied customers
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