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Where Taxpayers and Advisers Meet

Search found 96 matches

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by simpsonite
Fri Jun 05, 2015 11:01 am
Forum: Company Taxation
Topic: Dividend waiver & section 620 ITTOIA
Replies: 6
Views: 1596

Re: Dividend waiver & section 620 ITTOIA

the authorised was 500 A & 500 B

the issued and fully paid was £1 A & £1B

in 2003 Mr 499 A shares were issued to him and paid
by simpsonite
Thu Jun 04, 2015 3:40 pm
Forum: Company Taxation
Topic: Dividend waiver & section 620 ITTOIA
Replies: 6
Views: 1596

Re: Dividend waiver & section 620 ITTOIA

HI CGA, The company was incorporated in 1998. The authorised share capital was £1000 shares divided into 500 'A' ord of £1 ea & 500 'B' ord shares of £1ea. It wasn't until in or around 2003 that the share capital was altered to 500/1 The A & B shares have the right to receive out of the profits of t...
by simpsonite
Tue Jun 02, 2015 4:29 pm
Forum: Company Taxation
Topic: Dividend waiver & section 620 ITTOIA
Replies: 6
Views: 1596

Dividend waiver & section 620 ITTOIA

Hi all, I recently have taken on an a new company client The share capital was split 500 'A' ordinary shares to Mr & 1 'B' ordinary share to Mrs. I understand that the share capital was split in this way because Mr wanted protection in the event that he split up with his wife! In previous years the ...
by simpsonite
Tue Mar 31, 2015 12:18 pm
Forum: Capital Gains Tax, CGT
Topic: Grant of short lease out of freehold & entr relief
Replies: 3
Views: 981

Re: Grant of short lease out of freehold & entr relief

Hi loza,
sorry, my error. :oops: :oops:
Yes I agree your gain of 29k.

simpsonite
by simpsonite
Tue Mar 31, 2015 11:42 am
Forum: Capital Gains Tax, CGT
Topic: Grant of short lease out of freehold & entr relief
Replies: 3
Views: 981

Re: Grant of short lease out of freehold & entr relief

Hi Loza, Thanks for your response. So it appears you are in agreement that the capital improvement element is also plumbed into the calculation in addition to the initial free hold purchase cost, In order to find the adjusted part disposal base cost. I am still waiting on the reversionary figures fr...
by simpsonite
Tue Mar 24, 2015 12:51 pm
Forum: Capital Gains Tax, CGT
Topic: Grant of short lease out of freehold & entr relief
Replies: 3
Views: 981

Grant of short lease out of freehold & entr relief

Hi all, My client owns a freehold property which is held in his own name. The free hold is used for the commercial activities of his company. He has decided to grant a 15 year lease for a premium of £215,000 with an annual rent of £25,000 He bought the freehold in 1980 for around £50k. So, for the t...
by simpsonite
Mon Mar 23, 2015 2:56 pm
Forum: Company Taxation
Topic: Inter company loan write off
Replies: 2
Views: 839

Re: Inter company loan write off

yes, on reflection the money lent is still being held inside his newco so no tax avoidance in any way.
ok thanks
pawncob
by simpsonite
Thu Mar 19, 2015 4:50 pm
Forum: Company Taxation
Topic: Inter company loan write off
Replies: 2
Views: 839

Inter company loan write off

I have a builder company client. He wants to set up another company to buy residential property & rent out. He wants to know if he could transfer £380,000 from his existing company to his new company, thus showing a loan in both accounts. Can this be done & would HMRC accept this type of arrangement...
by simpsonite
Tue Oct 14, 2014 1:02 pm
Forum: International Tax
Topic: Uk Resident and receiving German pension
Replies: 7
Views: 4267

Re: Uk Resident and receiving German pension

With respect to you bd6759, Article 17 of that particular double taxation treaty is in in my opinion not set out In a clear & concise manner. Not sure about the OECD statndard but you possibly need to check your spelling. With respect bd6759 I am greatful for your response to my query , not to menti...
by simpsonite
Mon Oct 13, 2014 3:07 pm
Forum: International Tax
Topic: Uk Resident and receiving German pension
Replies: 7
Views: 4267

Re: Uk Resident and receiving German pension

Hi, thanks for the reply bd6759. yep I have already tried to read said article 17 of www.hmrc.gov.uk/taxtreaties/in-force/germany.pdf and it didn't really make much sense to me so I thought I would post the query on here instead! :lol: Ok, just to recap - So the German state pension is not taxable i...

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