Is market value applied on transferring property to parent?
Prior to the sale of a business, our client has formed a holding company to transfer a property out of the trading company to retain this. He will then sell the trading company and retain the cash and the property within the holding company.
The accountants acting for the purchaser has suggested that the property must be transferred for company law purposes at market value. Does any have any experiences of this. I am aware of the tax and stamp duty implications.
- Rounding errors on CT600 85 4
- Entrepreneurs' Relief upon sale of a cash rich company 2,279 48
- BrightPay quirks 151 2
- Leaving the VAT FRS Scheme or trying to stay as long as possible? 72 1
- HMRC now overriding SA bank repayment details on tax returns 780 20
- Xerocon 2016 1,159 31
- Website Content 66 1
- Mortgage Reference 468 5
- Personal Tax 609 12
- New Build 139 1
- Claiming annual pension allowance top up in SATR 109 1
- Starting band for savings - for 2014/2015 142 1
- USA Tax Query 275 2
- Website costs (intangible assets) tax relief 422 5
- last minute request 628 6
- buying asset and settling vendor's debt 329 6
- Posting invoices with balance brought forward 362 7
- Disengagement Help! 1,720 25
- Is HMRC Basic Tools basically wrong? 983 6
- Expenses paid by director (the comapny owner) 399 2