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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
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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
taxadvisor.uk
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Please, can you advise me on selling Sole trading business
HelloPlease, can you advise me on selling Sole trading business to Ltd , now I need to know :1) how to do with Fixed asset - what CR and DR transactions will look like (if for example Sole trader sell… read more
bigduckontax
bigduckontax
Accountant
FCCA FCMA CGMA ACG
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Please, can you advise what is difference between Director
HelloPlease, can you advise what is difference between Director Loan account and Owners Drawings? If I paid by business bank account for something which was not part of business, how should I record t… read more
taxadvisor.uk
taxadvisor.uk
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I have two completly seperate Ltd companies one is running
I have two completly seperate Ltd companies one is running fine, the other now 5 years old and was created to run a franchise which failed, I have around 20k in directors loans and the running loss is… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
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M LTD Y/E 31.12..IS THE CO TRADING AS A MEDICO LEGAL PRACTICE
M LTD Y/E 31.12..IS THE CO TRADING AS A MEDICO LEGAL PRACTICE (VAT REGD) FOR OVER 5 YRS, DIRECTOR DR JK; SHAREHOLDERS ARE DR JK 50% MRS SK 40% AND SON MR VK 10% E LTD Y/E 31.03.. IS THE CO TRADING AS … read more
Expert
Expert
Is it possible to transfer a directors loan with a credit balance
Is it possible to transfer a directors loan with a credit balance from Company A to Company B ? The same person is the director in both companies. He wants to close Company A, and carry on trading in … read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
899 satisfied customers
I am in the process of changing company from partnership to
I am in the process of changing company from partnership to limited. I would like some guidance on best ways to transfer assets (machinery, stock and website)… read more
TaxVince
TaxVince
Senior Accountant
Master's Degree
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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
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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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i understand the entries for a sole trader to start, Dr Cash
i understand the entries for a sole trader to start, Dr Cash Cr Capital but to start a ltd or plc i am unsure. Also how far can you go back for pre - trading expenditure.… read more
mark25551
mark25551
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I own an education centre which is a ltd company in the UK.
I own an education centre which is a ltd company in the UK. I declare everything and am getting taxed heavily. I have worked extremely hard to build the business. I have been considering moving abroad… read more
berduchwal
berduchwal
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I have a client who is a director of a close company and she
I have a client who is a director of a close company and she has a £20k+ overdrawn loan account which has accumulated over about 3 years and has never repaid it any all. She has been claiming tax cred… read more
Tony Tax
Tony Tax
Tax Consultant
High School or GED
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Small Ltd company just at the end of first year of trading.
Small Ltd company just at the end of first year of trading. Started with 3 director/shareholders, part way through the year two of the directors opted out and one of them elected to leave some money i… read more
CCTax
CCTax
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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
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On 1/12/08 we transferred our business into a limited company
On 1/12/08 we transferred our business into a limited company and there was £30K of goodwill transferred to the Limited Co which our accountant advised we could draw tax free (tax paid). Ufortunately … read more
TEAP007
TEAP007
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If a owner of a company loans the company money and repays
If a owner of a company loans the company money and repays himself later is it a drawing and therefore taxable or is it just a loan repaid, and where in the ledgers would you show these transactions… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
Can anyone help with a book keeping question relating to transfer
Can anyone help with a book keeping question relating to transfer of assets from one Limited Co to another? Company A has a motor vehicle on HP and ceases trading when the Director decides to set up a… read more
TEAP007
TEAP007
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