Client does not want to pay CGT on property disposal
We have a client who is looking to offload a property in 2012/2013. He purchased it for £55,000 and reckons he'll get about £190,000.
Fuming about 28% CGT on the higher rate.
He was told by someone down the pub that putting it in a company would solve the problem, but that would surely be an arms length transaction and would still raise a CGT liability.
He says he should get Entreprenuers relief. I've told him no. He won't have it and wants me to see how he can get out of it.
Was talking about buying a shed in Venezuela and changing his domicile and residence to not pay this beeping government.
- CIS registration when already registered for PAYE 55 4
- Claiming VAT on car lease 242 17
- Is it just me ... 85 4
- CT600 - Credit balance in expenses? 81 4
- HMRC Agent Accounts - PAYE 296 10
- Rectify overpaid childcare vouchers, how? 100 1
- Taxable Benefit for Director? 198 1
- Directors exempt from AE? 1,403 18
- R&D - HMRC Manual 83 2
- Impairment in value of subsidiary - allowable? 346 14
- CWF1 - is it still required?? 248 5
- Client in dispute with Customer over cancellation charge 1,136 27
- How to network with other Accountants? 583 3
- Any reasons for a dissolved company to comply with HMRC requesting Corporation Tax and Tax Returns 538 21
- Advice for new build property 117 3
- Should training costs being reclaimed be deducted from gross or net salary 293 5
- VAT FRS for a Formula 2 Racing Driver 293 8
- Duplicating Sales and COS but does not impacting bottom line? Legal? 235 3
- Claiming accommodation as employment expense? 164 1
- Sage Line 50 111 2
- Chart of account segments; Balance sheet vs P&L 737
- Any knowledge of salesorder.com 402
- Could and would anyone here carry out a hot file review of some non statutory audit work please? 349
- Electric Car 286
- S222 Charge 233
- IP trans to holding company 181
- Corporation tax penalties and fines on the CT600 175
- Software to Deal with Amazon and Ebay Sales 165
- AIA 161
- Best way to convert Sage data to VT Transaction+ 153