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Where Taxpayers and Advisers Meet

Search found 8 matches

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by businessmind
Wed Oct 09, 2019 8:32 am
Forum: Capital Gains Tax, CGT
Topic: Members Voluntary Liquidation (MVL)
Replies: 1
Views: 4612

Members Voluntary Liquidation (MVL)

I wonder whether I could get a view from the forum on the following as I seem to be receiving differing views from accountants. Just some context. I set up a business (100% in my ownership) three years ago providing consultancy services to multiple clients. I employed my partner on a part time basis...
by businessmind
Thu Jun 06, 2019 8:44 pm
Forum: Capital Gains Tax, CGT
Topic: Entrepreneurs Relief and Continued Employment
Replies: 1
Views: 489

Entrepreneurs Relief and Continued Employment

Myself and my business partner are each 50% shareholders in our trading business which has been established for in excess of 10 years, we are also both employees of the company. In agreement with my business partner I am looking at selling my shares back to the company, thus extinguishing them and m...
by businessmind
Sun Apr 28, 2019 8:36 am
Forum: Company Taxation
Topic: Future ER in relation to buyback of company shares
Replies: 1
Views: 9773

Future ER in relation to buyback of company shares

Myself and my business partner each own 25% of the shares in our trading company, alongside a corporate entity who owns the remaining 50% (all shares held in these proportions for circa 10 years). We have reached an agreement for the company to buy back the shares from the corporate entity using cas...
by businessmind
Thu Dec 14, 2017 10:15 am
Forum: Property Taxation
Topic: CGT Calculation
Replies: 4
Views: 601

CGT Calculation

I wonder if the experts here would give me a view. I purchased a properly at the start of the year which I planned to renovate and let out, adding this to a small portfolio of other properties I let out. The renovation costs were higher than expected resulting in a lower rental yield than I had assu...
by businessmind
Mon Oct 23, 2017 7:07 pm
Forum: Property Taxation
Topic: Ownership Transfer - Primary Residence
Replies: 1
Views: 2405

Ownership Transfer - Primary Residence

I wonder if someone might be able to advise. My friend bought the property where she lives now with a former partner in 2014 for £200,000. He did not contribute to the purchase of the property, provide a deposit or make any payment to the mortgage and they separate very soon after the purchase compl...
by businessmind
Sun Jun 04, 2017 10:23 am
Forum: Property Taxation
Topic: Income Tax or Capital Gains Tax?
Replies: 1
Views: 587

Income Tax or Capital Gains Tax?

I have a number of buy to let properties that I hold personally, I have only ever bought and not sold. I purchased another at the start of the year which I planned to renovate (work carried out by a contractor) and let out. There was more work than I first thought and having now completed the work I...
by businessmind
Thu Oct 13, 2016 2:28 pm
Forum: Property Taxation
Topic: Transfer of Residential Property to Company - Directors Loan Account
Replies: 1
Views: 890

Transfer of Residential Property to Company - Directors Loan Account

I personally own a number of residential properties outright (without mortgages) which I let out. I am looking at transferring these into a new company in my sole ownership. I appreciate the transaction would have to be at market value and that I will pay CGT on the sale and the company will pay sta...
by businessmind
Sun Feb 07, 2010 6:39 pm
Forum: Business Tax
Topic: Buying Shares In Own Business
Replies: 2
Views: 739

Buying Shares In Own Business

I am a shareholder in my own business along with three other individuals. We each own a 25% share and are employed by the business. One of the shareholders wished to terminate their employment and sell their shares, which will be bought equally by the remaining shareholder. The shares were originall...

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