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Where Taxpayers and Advisers Meet

Search found 80 matches

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by andy4851
Thu Mar 05, 2020 3:36 pm
Forum: Capital Gains Tax, CGT
Topic: Any CGT reliefs available?
Replies: 4
Views: 690

Re: Any CGT reliefs available?

Thanks very much for the reply.

If we sold the trade from the company but not the shares, could we do a partial roll over taking the disposal as £120k assets and £155k goodwill and getting rollover on the asset portion of the disposal?

I could be confusing the issue somewhat though.

Thanks again
by andy4851
Thu Mar 05, 2020 3:07 pm
Forum: Capital Gains Tax, CGT
Topic: Any CGT reliefs available?
Replies: 4
Views: 690

Any CGT reliefs available?

Hi My research would not indicate there is much we can do on the following but please tell me otherwise if I am mistaken. Husband owns the one share in limited company which has the trade of a take away shop in it. Company paid £6,000 for the assets of a previous company which went under. Company fo...
by andy4851
Mon Jan 29, 2018 9:47 am
Forum: Capital Gains Tax, CGT
Topic: Revised CGT due to withdrawal of earn-out
Replies: 0
Views: 392

Revised CGT due to withdrawal of earn-out

Good morning 2015 tax return had a Capital Gain of £256,119. £250,000 of this was based on an earn out which at the time was considered achievable and capped at that level. The earn-out has not been achieved and had been withdrawn, leaving the gain at £6,119. My question is what is the correct way o...
by andy4851
Mon Jan 30, 2017 4:21 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on business sale with earn out
Replies: 2
Views: 676

Re: CGT on business sale with earn out

Hi

Thanks, at time of sale earn out is definitely ascertainable.

Thanks again
by andy4851
Thu Jan 26, 2017 12:10 pm
Forum: Capital Gains Tax, CGT
Topic: CGT on business sale with earn out
Replies: 2
Views: 676

CGT on business sale with earn out

Hi Have a question as follows: 2 x 15% shareholders acquired the rest of a business for £450,000 Business later sold for £450,000 Legal costs borne by sellers - £110,000 Earn out on top potentially £500,000 following 3 year profit period Tax return due for CGT Am I correct in thinking the calc is Pu...
by andy4851
Thu Jan 07, 2016 5:05 pm
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT on gift from non dom parent
Replies: 2
Views: 740

Re: IHT on gift from non dom parent

Thanks maths

Parents left the UK and went back to Cyprus in 2008 and originally born in Cyprus.

Thanks very much for your reply
by andy4851
Wed Jan 06, 2016 7:27 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT on gift from non dom parent
Replies: 2
Views: 740

IHT on gift from non dom parent

Hi Cypriot parent moved back to Cyprus permanently on 1 May 2008 after residing in UK for 40 years. At the time he and his wife sold all UK properties and businesses. Moved all UK assets to Cyprus and have not been back to the UK since then. Now has no UK assets whatsoever. Wants to gift all of thei...
by andy4851
Fri Jan 23, 2015 1:38 pm
Forum: Capital Gains Tax, CGT
Topic: CGT calc for property disposal
Replies: 8
Views: 1318

Re: CGT calc for property disposal

Thank you all for your comments. The brother moved in with the intention to live there but then personal circumstances changed and he decided to sell and move in with his partner. House went up for sale and sold within 3 weeks. so was not on the market when he moved back in. Thanks very much for all...
by andy4851
Wed Jan 21, 2015 2:53 pm
Forum: Capital Gains Tax, CGT
Topic: CGT calc for property disposal
Replies: 8
Views: 1318

CGT calc for property disposal

Hi everyone Can someone possibly assist with this please: Brother and sister purchased property as BTL on 2 December 2008 price incl fees etc 293,000 Brother moved back in and elected the property as PPR in September 2012 with HMRC. Sold on 23 July 2013 for 471,500 after fees. Issue we have is does ...
by andy4851
Thu Jan 17, 2013 3:06 am
Forum: Property Taxation
Topic: Entrepreneurs relief and rental properties
Replies: 1
Views: 681

Entrepreneurs relief and rental properties

Good evening, I wonder if anyone can clarify something for me please. I own half a dozen properties, 2 individually, 2 with one person and 2 with another and have them all rented out. I am looking to sell one of the properties which is owned with another individual. Someone has mentioned Entrepreneu...

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