A client had penalties and interest for late filing of his SA tax return 2011-2012 return. The client has been paying them off on a monthly basis between Jan and April 2014.
We are purchasing a property which is already opted to tax, we are therefore treating the purchase as a Transfer of Going Concern and no VAT is payable on the purchase price.
A going concern was purchased for £50k goodwill and £10k shop fittings. Business purchased from sole trader, new business run as limited company, Buyer and seller are unconnected.
I have a new client with the following details:
Taxi driver for 20 years - Sole Trader.
I have a client who has purchased Lexus CT Hatchback 200 h 1.8 Advance 5 Dr CVT Auto car on Personal contract purchase in name of his limited company
Couple live overseas for over 10 years but recently sold some properties that they bought when living here.
If a company makes a loss on a rental property (ie rent), am I right in assuming that the loss is relieved against other income in the same accounting period (including trading income and interest
I have a client who has runs a LTD as a commercial property agency.
It has cash surplus and a very healthy balance sheet.
I know how to deal with bonus issues in a S104 Pool of shares but I am unsure about the treatment of a reverse split (e.g. 10 shares become 4 shares).