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Where Taxpayers and Advisers Meet

Search found 56 matches

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by simplytax
Fri Apr 12, 2019 5:18 pm
Forum: Company Taxation
Topic: Tax relief for planning obligation
Replies: 0
Views: 1231

Tax relief for planning obligation

Assume a company holds land in fixed assets which it then obtains planning consent for residential housing, the land is transferred to trading stock and sold to a house builder. To obtain planning consent from the Local Authority the company was required to grant a 125 year lease over other land at ...
by simplytax
Thu Jun 07, 2018 6:47 pm
Forum: Capital Gains Tax, CGT
Topic: Attribution of gains from NR property letting company
Replies: 1
Views: 788

Attribution of gains from NR property letting company

If a UK individual is one of 4 shareholders in a Belgian company which holds a commercial property in Belgium which is commercially let through a property managing agent, will s13 TCGA apply when the company sells the property to attribute a gain subject to CGT for the UK individual assuming the ind...
by simplytax
Thu May 03, 2018 3:10 pm
Forum: Capital Gains Tax, CGT
Topic: members club becoming SCIO and CGT
Replies: 1
Views: 795

members club becoming SCIO and CGT

If a members club owning its own building becomes a Scottish Charitable Incorporated Organisation ( SCIO) or CIO in England is there a taxable gain on the property transferred? Members club is an unincorporated association but is subject to corporation tax as it is within the definition of a "compan...
by simplytax
Fri Jan 26, 2018 12:08 pm
Forum: Business Tax
Topic: Rebranding costs - revenue or capital?
Replies: 5
Views: 3389

Re: Rebranding costs - revenue or capital?

If an asset is created that is registered or trademarked and provides an endurable benefit then yes the costs associated with that may be capital. HMRC at BIM35640 https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim35640 on "expenditure developing a brand" comment that: "Generally th...
by simplytax
Wed Jan 24, 2018 6:39 pm
Forum: Business Tax
Topic: Rebranding costs - revenue or capital?
Replies: 5
Views: 3389

Re: Rebranding costs - revenue or capital?

If the business is a large multinational with a certain brand image that is being created or enhanced then re-branding may be an intangible but can't see it as capital asset for smaller services business. It is unlikely any business would capitalise it in its accounts as there is no certainty it wou...
by simplytax
Tue Jan 23, 2018 5:47 pm
Forum: Professionals in Practice & Industry
Topic: Rebranding costs - revenue or capital?
Replies: 0
Views: 3698

Rebranding costs - revenue or capital?

If a services business incurs expenditure on re-branding is there a basis for regarding this as revenue rather than capital expenditure? Typically such re-branding covers: 1. Re-designed logo and colours with new letterhead, templates, e-mails etc 2. Re-designed sales and corporate literature and br...
by simplytax
Tue Jan 23, 2018 5:46 pm
Forum: Business Tax
Topic: Rebranding costs - revenue or capital?
Replies: 5
Views: 3389

Rebranding costs - revenue or capital?

If a services business incurs expenditure on rebranding is there a basis for regarding this as revenue rather than capital expenditure? Typically such rebranding covers: 1. Re-designed logo and colours with new letterhead, templates, e-mails etc 2. Re-designed sales and corporate literature and broc...
by simplytax
Mon Jan 15, 2018 5:56 pm
Forum: Professionals in Practice & Industry
Topic: ER claim for gain on unlisted shares in 2016/17 return and CGT 20 validation error
Replies: 0
Views: 2235

ER claim for gain on unlisted shares in 2016/17 return and CGT 20 validation error

ER claim for gain on unlisted shares in 2016/17 return and CGT 20 validation error Where there is a claim for ER on gains on unlisted shares has anyone had HMRC validation errors with online filing. Software provider says you need to put the gains in the Other property,assets and gains section of TR...
by simplytax
Thu Dec 21, 2017 7:01 pm
Forum: Company Taxation
Topic: Treatment of dividend from subsidiary
Replies: 1
Views: 1342

Treatment of dividend from subsidiary

If following an acquistion a parent company receives a dividend from the subsidiary out of its pre-acquisition reserves which is accounted for as a reduction of cost of investment in the parent's accounts, how should this be shown in the tax return and computations of the parent? Is it just ignored ...
by simplytax
Thu Dec 21, 2017 6:59 pm
Forum: Professionals in Practice & Industry
Topic: Dividend received from subsidiary
Replies: 0
Views: 2547

Dividend received from subsidiary

If following an acquistion a parent company receives a dividend from the subsidiary out of its pre-acquisition reserves which is accounted for as a reduction of cost of investment in the parent's accounts, how should this be shown in the tax return and computations of the parent? Is it just ignored ...

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