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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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...
It's possible.
In your case, no-one can say as you've missed out 99% of the relevant information.
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.
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.
So the information you can see is gender and desire/motive.
Gender ? I refer you to the Interpretation Act.
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.
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.
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.