My client owned 30% shares in Company A Ltd and Company B 70% together they ran Company C Ltd. On 30/11/11 company B transferred the 70% of shares to Company A (my client Company A Ltd now holds 100%) at zero cost as the company had no assets on its balance sheet and had only be trading for less than six months.
From 1/12/11 to 30/3/12 Company A traded using the bank account of Company C and some invoices where issued using Company C’s details.
Please can you advise me on how I deal with this for Corporation Tax purposes? As my client would like Company A to have started trading from 1/12/11 is this possible?
Also invoices where issued with Company C’s VAT details from 1/12/11 and Company A did not register for VAT until 9/3/12.
Again I would very much appreciate your advice.
Thank you in advance