Tax Insider Tip: Incorporation Relief And Directors’ Loan Accounts: Watch Out For CGT!
This article is prompted by reader feedback. Based on that feedback, there appears to be some misunderstanding about how capital gains tax (CGT) incorporation relief (under TCGA 1992 s 162) works and when it is available. A specific issue appears to be in relation to directors’ loan accounts (DLAs), as set out below.
In a recent issue Property Tax Insider Lee Sharpe looks at the incorporation of a business, and some issues affecting incorporation relief for capital gains tax purposes.
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>> Incorporation Relief And Directors’ Loan Accounts: Watch Out For CGT!