I have a client who's thinking of incorporating from sole trade - so I just have a few questions!
Am I right in saying that if he started trading after 1 April 2002 then goodwill is allowable for CT deduction?
How do you go about putting a value to goodwill and then agreeing it with HMRC?
He also owns quite a large garage (worth about £70k) so presumably the title of this would need to be transferred to the company?
Any help much appreciated!
- Overpaid In Employers NI - RTI EYU for hundreds of employees 110 2
- Stumped - IHT 89 2
- Leaving the VAT FRS Scheme or trying to stay as long as possible? 399 6
- No PAYE Registration but need auto enrolment 464 11
- Tips on meals 124 1
- HMRC now overriding SA bank repayment details on tax returns 1,276 33
- Credit management tools 108 1
- Rental losses on jointly owned property 107 2
- property capital gains 102 1
- Write an article on latest tax changes for landlords. 768 20
- Incorporate to utilise dividend allowance next year? 369 7
- CGT and primary residence 150 1
- Marriage Allowance 246 3
- Private doctors - Ltd company vs partnership 1,142 12
- S455 and February year ends 304 7
- HMRC having technical difficulties 878 18
- Closing down loss-making company 443 5
- S.455 Tax again 284 3
- New Build 338 2
- Taxation of sinking fund contributions 375 4