CGT and IHT reliefs on this company
Looking for some second thoughts.
Successful trading company, profits of £300k per annum. Been trading for 20 years. Balance sheet looks like this:
Business Premises £250k
Cash at Bank £3.5m
Investment Properties £0.5m
Net Assets £4.250m
Share capital £1k
Retained Reserves £4.249m
Turnover is about £4m pa. Employs 20 staff.
Are these trading company shares for the purposes of CGT ER?
Are these shares business assets for BPR? How would any restriction (excepted asset) to BPR be argued practically?
- P11d query 270 5
- Rental expenses 63 1
- Intercompany Payroll Journals 140 5
- What are my legal responsibilities 359 14
- Business lending another business money (UK) 93 2
- Rental business through company without owning the property? 337 4
- No more tax returns... 1,543 13
- How much state pension will client lose out if drops salary 421 6
- Signed accounts for bank 302 7
- Companies House paper incorporation - date of birth omission 480 10
- Landing clients 426 15
- Are any of you members of The Institute of Financial Accountants - Accountnats certificate 1,156 22
- Termination Payment 218 5
- dividend date - whose income is it? 226 3
- CRM / marketing 117 2
- Allocation of income from property 759 26
- Stand alone practice management software 1,886 28
- Opening a Quick books file 147 1
- 64-8 problems 525 8
- Guaranteed rents - which is the turnover? 351 10