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Related UK Tax Questions
A Capital Allowance question. A client company is buying a
Hi Tony, a Capital Allowance question. A client company is buying a van through contract purchase, where the ownership of the van passes at the end of the contract on payment of a final amount. Can An… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
A Ltd Company capital allowance question. The company sold a
Hi Tony, a Ltd Company capital allowance question. The company sold a van on which it had previously claimed 100% AIA. There was a small loss on sale. Reading HMRC notes it says add the full value (i.… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
A question re VAT and the Flat Rate Scheme. Normally in your
Hi Tony, a question re VAT and the Flat Rate Scheme. Normally in your first year as a VAT -registered business you can reduce the VAT flat rate by 1%. Does this apply if you have been a VAT registered… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
16,712 satisfied customers
My question is re Annual Investment Allowance. My client is
Hi Tony, my question is re Annual Investment Allowance. My client is a full time self-employed piano teacher and musician. His father paid for a new piano - my client wishes to bring it in to his prof… read more
Tony Tax
Tony Tax
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High School or GED
16,712 satisfied customers
Hi Tony, A client has been in partnership with his father and
Hi Tony, A client has been in partnership with his father and the last partnership accounts were to 31.03.12. His father retired and son carried on the trade as a sole trader. Business had not been go… read more
Tony Tax
Tony Tax
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We have a UK company, we bought some assets to test a commercial
We have a UK company, we bought some assets to test a commercial model but it didn't work. Can we make a tax deduction for the assets that are now valueless?… read more
bigduckontax
bigduckontax
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FCCA FCMA CGMA ACG
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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
16,712 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
my first accounts are16/8 2011 to 31/10/2012.whats my basis
my first accounts are16/8 2011 to 31/10/2012.whats my basis periods and how do I work out my capital allowances. all AIA I think.… read more
Tony Tax
Tony Tax
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High School or GED
16,712 satisfied customers
Can a sole trader restrict their capital allowance claim? My
Can a sole trader restrict their capital allowance claim? My client has made a small profit below the personal allowance level and we do not want to waste their capital allowances by claiming AIA this… read more
Tony Tax
Tony Tax
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High School or GED
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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
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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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If I cease trading a Ltd, can I restart as sole trader without
If I cease trading a Ltd, can I restart as sole trader without vat reg and buy assets off Ltd company? Also, can I keep my t/a name?… read more
mark25551
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Does an incorporation of a sole trader buiness count as a permanent
Does an incorporation of a sole trader buiness count as a permanent discontinuance of trade for AIA purposes?… read more
Tony Tax
Tony Tax
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High School or GED
16,712 satisfied customers
if a partnership trade commences mid way through an accounting
if a partnership trade commences mid way through an accounting period, shoudl writing down allowances be apportioned? Should the £50,000 initial investment allowance be apportioned… read more
Tony Tax
Tony Tax
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High School or GED
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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
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Chartered Tax Adviser
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New Annual Investment Allowance Having closed down my one
New Annual Investment Allowance Having closed down my one man company, I commenced business as a sole trader on 1 April 2008. I purchased the assets of the company (being woodworking machinery) for £3… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,731 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
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