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Holding company disposal of investment

Is corporation tax payable on the gain?

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I have a simple ltd co structure whereby a shareholder loan has funded the purchase of shares in another company shown as an investment in the accounts.  No bank account.

The company is now closing, the shares were sold creating a £7k gain. All entries via shareholder loan account

Is corporation tax chargeable on this gain/profit?

I also have £5k of losses brought forward from pre 2017 and these are shown as trading losses so i dont believe i can offset.

Any help would be appreciated, this is the first holding company i have looked at, so, learning.

Thank you

 

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By Wanderer
26th Apr 2021 14:16

sammywitters wrote:

Is corporation tax chargeable on this gain/profit?

Have you considered SSE?
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By sammywitters
26th Apr 2021 14:41

well....I just looked at SSE, it looks complicated so I don't really know where to start.

I was hoping this would be really simple but it turns out it's me that's really simple!

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By sammywitters
26th Apr 2021 14:43

well....I just looked at SSE, it looks complicated so I don't really know where to start.

I was hoping this would be really simple but it turns out it's me that's really simple!

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Psycho
By Wilson Philips
26th Apr 2021 15:35

I think you need to be a little, sorry - a lot, clearer (and more expansive) with your information.

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