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Where Taxpayers and Advisers Meet

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by hashman
Thu Sep 28, 2006 9:55 am
Forum: Company Taxation
Topic: Enhanced goodwill on incorporation
Replies: 4
Views: 1106

My colleague has had a couple of replies printed in this week's 'Taxation' - have a look at "Goodwill not good?" - the replies agree that relief should continue to be available for post 31/03/02 goodwill.
by hashman
Thu Sep 28, 2006 7:34 am
Forum: Company Taxation
Topic: R & D tax credits
Replies: 1
Views: 910

Just one point for clarification - it's 24% of the R&D expenditure that can be claimed (maximum) not 24% of 150% of that expenditure.
by hashman
Thu Sep 28, 2006 6:49 am
Forum: Property Taxation
Topic: Student's liability for taxes on 'By to Let' flat when flat is sold.
Replies: 4
Views: 986

I disagree with both of the above calculations -

Re Peter D's - the £8,800 annual CGT exemption is not in terms of tax but in terms of a reduction to the gain

Re al_eebee's - the middle rate should be 20% not 22%
by hashman
Thu Sep 28, 2006 6:29 am
Forum: Capital Gains Tax, CGT
Topic: Taper relief - high cash balance on balance sheet
Replies: 4
Views: 1112

Have a look at Tax Bulletin 62
by hashman
Thu Sep 28, 2006 4:53 am
Forum: Company Taxation
Topic: Enhanced goodwill on incorporation
Replies: 4
Views: 1106

<t>I believe that is strictly the case - but how you identify the amount of goodwill eligible for relief in the company is a different matter.<br/> <br/> [A colleage of mine is currently querying whether the 2006 legislation does what I have suggested above it does - with 'Taxation' queries and HMRC...
by hashman
Thu Sep 28, 2006 4:47 am
Forum: Capital Gains Tax, CGT
Topic: Capital Gains on Sale of Rented Property
Replies: 2
Views: 1159

<t>Long enough to establish it as the PPR of you both. There is no time stipulated in the legislation but I would generally be comfortable with 12 months. Do not put it up for sale immediately after moving in and if you have another residence (which you presumably do at the moment) you need to consi...
by hashman
Thu Sep 28, 2006 4:41 am
Forum: Capital Gains Tax, CGT
Topic: Sale of options with cash and/or loan notes as payment
Replies: 1
Views: 738

<t>I'm not clear about the pooling point but in general you have 40 days (from the date your employer became a subsidiary of another company) in which to exercise your scheme options without losing the tax benefits. Any gains realised on taking cash will be liable to CGT - if the options were grante...
by hashman
Thu Sep 28, 2006 4:31 am
Forum: Capital Gains Tax, CGT
Topic: buying & selling property & capital gains allowance
Replies: 3
Views: 1051

Depends on circumstances but prima facie it seems likely they would be liable to income tax not CGT on their profits.
by hashman
Thu Sep 28, 2006 12:45 am
Forum: Capital Gains Tax, CGT
Topic: Sale of shares
Replies: 1
Views: 1017

<t>1. The grant of the option is a disposal (not a part disposal) and the amount paid for the option is brought into charge to CGT. But if the option is exercised then the sum paid for the option and the sum paid on exercise are combined into one transaction.<br/> 2. BATR should be available provide...
by hashman
Thu Sep 28, 2006 12:27 am
Forum: Company Taxation
Topic: Enhanced goodwill on incorporation
Replies: 4
Views: 1106

Neither - i.e. it is not available because although you can argue that some of the goodwill has been created since 1 April 2002 para 127B Sch 29 FA 2002 (as amended by s. 77(8) FA 2006) now stops this (as from 5 December 2005).

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