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CT LOSSES AND GOODWILL

Can they be transferred by billing them to the new business now being run as a sole proprietor?

Also since the business in question as built up quite a number of clients could part of the losses be treated as goodwill in

the business now being run as a sole proprietor?

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11th May 2012 13:34

No

Is there or is there not Goodwill to be sold? This is nothing to do with historic losses.

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Yes there is some goodwill

Chris Smail wrote:

Is there or is there not Goodwill to be sold? This is nothing to do with historic losses.

Yes there is about £28,000 worth of annual income from these clients but there will be an invoice issued soon for £80,000 plus fees and expenses of approx £30,000 which were owed to my limited company that was dissolved in October 2011 due to debts having built up in that company which were caused by the build up of fees and expenses owed to it. I personally have taken on the debts of my limited company prior to it being dissolved and the company's losses will be needed by me personally to offset against the fee income and expenses I am about to charge. If it is not possible for my limited company's losses to be billed to me personally, which as already happened, is there a way out of me being taxed on the receipt of monies for fees/expenses charged by me but were due to my dissolved limited company?

 

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