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Where Taxpayers and Advisers Meet

Search found 154 matches

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by okevin
Tue Dec 18, 2012 3:14 am
Forum: Inheritance Tax, IHT, Trusts & Estates, Capital Taxes
Topic: IHT Liability
Replies: 6
Views: 1246

Re: IHT Liability

As it stands there is no relief available to mother.

Could the mother introduce the property to the business, ring fencing the value in her capital account. Bpr at 50% would then be available on the Partnership asset.
by okevin
Fri Jan 06, 2012 9:56 am
Forum: General
Topic: Self-assessment and gift hold-over relief
Replies: 4
Views: 2038

Re: Self-assessment and gift hold-over relief

I disagree with the above post in one way.

The form does need to be submitted to HMRC but not by you! The donor needs to submit the form either as part of his self assessment or with a covering letter to his tax office.
by okevin
Thu Dec 02, 2010 10:02 pm
Forum: Company Taxation
Topic: capital loss
Replies: 2
Views: 867

Re: capital loss

not enough info.
have a look at s29 tcga and post further info.
by okevin
Mon Nov 02, 2009 8:58 pm
Forum: Company Taxation
Topic: Goodwill on Incorporation
Replies: 3
Views: 1078

Re: Goodwill on Incorporation

In the case you describe goodwill would be allowable deduction for company.
When you say "they", do you refer to HMRC?
Interested to hear what they say about it, there is no doubt it is allowable. Is the valuation of GW the problem?
by okevin
Tue Oct 27, 2009 9:24 am
Forum: Business Tax
Topic: New Partnership
Replies: 2
Views: 911

Re: New Partnership

Many thanks,
I thought that was the case but just wanted to double check.
cheers
by okevin
Mon Oct 26, 2009 10:46 am
Forum: Business Tax
Topic: New Partnership
Replies: 2
Views: 911

New Partnership

I have a partnership commencing 1 March 2009. First accounts will be drawn up to 31 March 2010 (after the Jan 10 filing date). What do people suggest is the best way of entering what will be an estimate for 08/09 in the partnership and individual returns!? Also what is best practical way of adjustin...
by okevin
Sun Oct 25, 2009 9:50 pm
Forum: Company Taxation
Topic: Writing off directors loans - possible
Replies: 6
Views: 1669

Re: Writing off directors loans - possible

Sorry but can you summarise the latest balance sheet position exactly?
by okevin
Sun Oct 25, 2009 9:45 pm
Forum: Company Taxation
Topic: Losses and Corporation Tax
Replies: 5
Views: 1028

Re: Losses and Corporation Tax

I m not totally sure that excess cash held in a bank would be classed as NTLR item!!!
The money was not part of a money debt.
by okevin
Tue Sep 22, 2009 9:25 pm
Forum: Company Taxation
Topic: Sale of Property within a company
Replies: 3
Views: 791

Re: Sale of Property within a company

Assume that the co holds the property as stock for resale. This should be valued atlower of cost or NRV, this writ down will produce a trading loss. You can not just elect to sell to yourself (i.e. hold as investment property) if the intention is to sell to third parties. The property should remain ...
by okevin
Fri Jul 24, 2009 8:08 pm
Forum: Company Taxation
Topic: corporate hive up goodwill.
Replies: 0
Views: 1642

corporate hive up goodwill.

Hi, Company A purchased the share capital of Company B. Imediately afterwards Company B's trade and assets were hived up into Company A. Company B is now dormant, Company A owns all income and assets previously held by Company B. The deal was seller driven, i.e.if Company A wanted B, it would have t...

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