Specific situation is that Company A has been trading for 8 months. The balance sheet currently has intangible assets (website/system development), loan, and a small bank balance. The company is now seeking investment, however the SEIS qualification will be more involved as Company A has been registered for 8 years, and although dormant for the full 8 years, the owner wants to change the company name to better align with the new trade. Cleaner to transfer the trade/assets to Company B. Question is will this give rise to a chargeable gain or can the transfers be at no gain/no loss. Both companies will have idential ownership.
4th May 2022
Tax on Asset transfer 100% common shareholding
Tax implication transferring trade & assets between 2 small UK companies with identical ownership.
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