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Can I move business from 1 company to another

Tax implications of moving business from 1 co to another

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Is it possible to move the business from one limited company to another, effectively winding down one of the companies without tax implications 

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panda ketteringUK
By ketteringUK
21st Oct 2018 10:37

Archimedes once said 'Give me a place to stand and with a lever I will move the whole world'

another wasteful question by a NON-professional...

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RLI
By lionofludesch
21st Oct 2018 10:43

It's possible.

In your case, no-one can say as you've missed out 99% of the relevant information.

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Replying to lionofludesch:
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By Tax Dragon
21st Oct 2018 11:16

What's the 1% that HAS been provided?! I can't see it!

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Replying to Tax Dragon:
RLI
By lionofludesch
21st Oct 2018 15:35

Well, admittedly there's a bit of guesswork involved but I'm inferring that he wants to transfer a business from one company to another.

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Replying to lionofludesch:
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By Tax Dragon
21st Oct 2018 17:38

So the information you can see is gender and desire/motive.

You're on Aweb's platinum package aren't you. I've only subscribed for the basic view.

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Replying to Tax Dragon:
RLI
By lionofludesch
21st Oct 2018 17:53

Tax Dragon wrote:

So the information you can see is gender and desire/motive.

Gender ? I refer you to the Interpretation Act.

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By Tax Dragon
21st Oct 2018 11:21

Pretty much guarantee there'll be tax implications. Can't begin to say whether there'll be an immediate tax charge - you haven't told us anything.

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Lone Wolf
By Lone_Wolf
22nd Oct 2018 15:17

It is entirely possible. May not be probable though.

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Portia profile image
By Portia Nina Levin
22nd Oct 2018 15:25

Yes.

NB: I have assumed that the company disposing of the business is owned by the company acquiring the business, and that both companies are UK resident. Obviously, I have no clue what the fuching point of the exercise is though.

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Replying to Portia Nina Levin:
By Duggimon
22nd Oct 2018 15:34

For simplicity's sake lets assume the company disposing of the business is also the company acquiring the business, the journal entries are easier then too.

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