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Where Taxpayers and Advisers Meet

Search found 48 matches

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by Milbo
Wed Mar 27, 2013 4:00 pm
Forum: Capital Gains Tax, CGT
Topic: Entrepreneurs Relief - Employee or Official
Replies: 9
Views: 1287

Re: Entrepreneurs Relief - Employee or Official

There are 7 shareholders, two of which are directors. Regular meetings are held which they term 'Board Meetings' and are attended by all shareholders to discuss business matters. The retiring shareholder is not a Director and based on what you say, is not a Board member either. Please therefore igno...
by Milbo
Wed Mar 27, 2013 2:47 pm
Forum: Capital Gains Tax, CGT
Topic: Entrepreneurs Relief - Employee or Official
Replies: 9
Views: 1287

Entrepreneurs Relief - Employee or Official

We have a situation whereby a P46 has been signed by the employee (12.5% shareholder) who has also been a member of the Board (but not a Director or Co Sec) since incorporation in 2007 and which is documented. The employee is to retire and the other shareholders have been approached to buy the share...
by Milbo
Tue Dec 04, 2012 11:30 am
Forum: Tax Investigations and Enquiries
Topic: S9A enquiry reminders
Replies: 3
Views: 1723

Re: S9A enquiry reminders

Thanks Mullet. This is an ongoing case and we have already been to Dispute Resolution where no such evidence has been provided. If HMRC had been able to provide evidence of issue of the notice then we would have accepted same. That there is no such evidence, that the original notices were correctly ...
by Milbo
Mon Dec 03, 2012 12:44 pm
Forum: Tax Investigations and Enquiries
Topic: S9A enquiry reminders
Replies: 3
Views: 1723

S9A enquiry reminders

HMRC supposedly issued S9A enquiry letters to both the client and ourselves as agents in January 2012, neither of which were received. In late April 2012, we both received reminders enclosing copies of the original letters which were correctly addressed. Is there any published HMRC procedure for fol...
by Milbo
Wed Oct 24, 2012 1:37 pm
Forum: General
Topic: Overpaid motor expenses - former employee
Replies: 2
Views: 1579

Re: Overpaid motor expenses - former employee

Thanks Robbob,

The HMRC Employers Helpline did actually transfer me to the Technical Team which was the reason for my surprise at the answer.

I was initially of the opinion that the debt was a loan written off (in the same way that a DLA could become overdrawn) but apparently not.
by Milbo
Wed Oct 24, 2012 12:25 pm
Forum: General
Topic: Overpaid motor expenses - former employee
Replies: 2
Views: 1579

Overpaid motor expenses - former employee

The employee left the company in 2011/12 following a dispute on less than amicable terms. The employer paid the employees motor expenses and in return the employee submitted mileage claims. A balance of circa £6,000, as detailed on a 'loan account' was owing to the employer at the date of leaving. B...
by Milbo
Mon Apr 02, 2012 1:23 pm
Forum: Company Taxation
Topic: Company Restructure/Demerger
Replies: 9
Views: 2255

Re: Company Restructure/Demerger

Thanks AK, I think if we move the loan down then we can treat the holding company as dormant as the repayments will be via the trading company.

The client however wants to remove the holding company altogether.
by Milbo
Tue Mar 20, 2012 12:37 pm
Forum: Company Taxation
Topic: Company Restructure/Demerger
Replies: 9
Views: 2255

Re: Company Restructure/Demerger

There are no 'issues' between the lender (brother) and the company so it can be done either way.
by Milbo
Tue Mar 20, 2012 12:13 pm
Forum: Company Taxation
Topic: Company Restructure/Demerger
Replies: 9
Views: 2255

Re: Company Restructure/Demerger

Maybe I should have said move the trade and assets into the top company leaving the wholly owned subsidiary as a shell only.

However that is irrelevant to the question as the client doesn't want to do that due to the administrative burden.
by Milbo
Tue Mar 20, 2012 11:18 am
Forum: Company Taxation
Topic: Company Restructure/Demerger
Replies: 9
Views: 2255

Re: Company Restructure/Demerger

My apologies for any confusion.

There are two companies. The reference to the dissolution of the bottom company was meant to relate to the former trading company after it has moved up into the holding company.

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