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Where Taxpayers and Advisers Meet

Search found 65 matches

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by 170872
Fri Mar 20, 2015 6:30 pm
Forum: Company Taxation
Topic: Share Capital transfer to new owner
Replies: 4
Views: 1110

Share Capital transfer to new owner

Hi All, If a restaurant Ltd company with 2 shareholders (directors) each holding 75,000 shares sells the trade and a new owners (2) people takes over. How about the shares ? Is the shares transfer straighforward by changing details on companies house? Or application to HMRC is required to notify the...
by 170872
Sat Oct 11, 2014 12:13 pm
Forum: VAT & Excise Duties
Topic: Petrol expenses company Vehicle
Replies: 1
Views: 611

Petrol expenses company Vehicle

Hi All, I wonder if someone can give me some advice. I have two clients one is a cleaner and another is a Builder both Ltd company with company Van. Can I claim all petrol expenses and the VAT element? or is it better and beneficial to claim busines milleage? If I claim VAT on petrol do I have to us...
by 170872
Wed Sep 03, 2014 5:28 pm
Forum: Property Taxation
Topic: Best way to structure investment property
Replies: 2
Views: 926

Best way to structure investment property

Dear all, I have questions and need advice. If a person is in a 40% higher rate tax bracket and owns few properties. And now plans to acquire more property. What is the best structure he can use so that he does not pay 40% tax on additional property income that he gets. If he puts the newly acquired...
by 170872
Sat Aug 30, 2014 9:38 am
Forum: VAT & Excise Duties
Topic: Pre VAT Registration expenses
Replies: 1
Views: 695

Pre VAT Registration expenses

Hi all,

I have a new client who is an estate agent. I have regsitered him for VAT. Can he claim advertising expenses like rightmove, Zoopla - 6 months before the VAT registration?

Thanks
by 170872
Sun Aug 24, 2014 12:55 pm
Forum: Business Tax
Topic: Uniform allowable expenses
Replies: 2
Views: 1233

Uniform allowable expenses

Hi, I have a question. An estate agents accounts show an allowable cost for Uniform of £491 per year. Is this allowable expenses or is he claiming wrongly. The is claiming for cleaning and ironing and purchase of coat to use in their small estate agent premises. He is arguing it is necessary to be s...
by 170872
Thu Jul 31, 2014 1:23 pm
Forum: VAT & Excise Duties
Topic: VAT Scheme- can I use this for conner shop
Replies: 3
Views: 869

Re: VAT Scheme- can I use this for conner shop

Less35, thanks for your reply.

If I use this method, the Output VAT on sales is £1,190.18

Then less VAT on Purchases (£604.23+595.20) = (£1,199.43)

Which mean each quarter he will be in a repayment position. Please let me know your views

Thanks
by 170872
Thu Jul 31, 2014 11:49 am
Forum: VAT & Excise Duties
Topic: VAT Scheme- can I use this for conner shop
Replies: 3
Views: 869

VAT Scheme- can I use this for conner shop

Dear all, I saw this calculation a retail scheme used in the past but I am not sure if this is correct so need you opinion if I can continue use for a shop please: The sales is mixed zero rated and std rated. Same with the purchases. Purchases = £16,212.12 - less Vat £604.23 = £16,666.43 net purchas...
by 170872
Sun Jul 13, 2014 12:23 am
Forum: Tax Investigations and Enquiries
Topic: Till report reading and undeclared income
Replies: 2
Views: 2071

Till report reading and undeclared income

I have a client - HMRC came for a VAT . They then came again another day with an expert and ran a till report going back few years and took it with them. Now they have analysied them and saying that my client has not declared all income for VAT and that the readings are higher than reported. Also th...
by 170872
Fri Jul 11, 2014 8:14 pm
Forum: Property Taxation
Topic: Buying buy to let properties using a Ltd Company
Replies: 1
Views: 548

Buying buy to let properties using a Ltd Company

Hello,

I want know if there is any drawback or tax advantage of buying a buy to let propery by a foreign investors by setting up a Ltd company?

Assuing he sets up a Ltd company and invest about £500,000 into the company and buy properties in the UK. Is this the best strategy to do so?

Thanks
by 170872
Thu Jul 10, 2014 3:49 pm
Forum: General
Topic: Setting up a Ltd Company and buying residential property
Replies: 1
Views: 1551

Setting up a Ltd Company and buying residential property

Hi all, I have a scenario here and would like to see peoples opinion. If someone say from abroad set up a Limited company in UK and buy properties under this company with an investment of £500,000. If this possible? My understanding is that the company will be treated as a close investment holding c...

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