Sole Trader to Limited Company

A client is looking to move from a sole trader to a limited company. In terms of the treatment of her sole trader capital account balance , my understanding is this will become the goodwill of the limited company (or even a Loan ?) which is the available to de drawn tax free if the client wishes. 

Is this correct ?

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Cart before the horse

ShirleyM |
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Sole Trader to Limited Company

Anonymous |

Rough Guide

ShirleyM |
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Shirley

Anonymous |

Pembo

ShirleyM |
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on reflection

Anonymous |

Thanks Pembo

ShirleyM |
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HMRC Valuation of Goodwill?

timmcarr |

Form CG34

ShirleyM |
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Thanks

timmcarr |

Timing of valuation

DavidW878 |

CT charge

Anonymous |

Get the valuation agreed by HMRC

agwilshaw |

When was goodwill created?

anavrin |

Yes, you can leave your proceeds outstanding as a loan

Nichola Ross Martin |
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HMRC agreement?

Anonymous |

Could be more hassle than it's worth?

Anonymous |

On a completely non tax point

The Minion |
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Goodwill valuation clauses

cfield |
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