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stephenpotter
Member Since: 8th Oct 2002
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stephenpotter
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My answers

22nd Jan 2021

Many thanks for all of your help, it is very much appreciated.
Can I just clarify, when you say you agree the conclusion, you do mean that an AIA claim in respect of the full cost of the Machinery can be made?
Sorry to labour this point

Reply to
Rollover relief into Fixed Plant & Machinery
22nd Jan 2021

Many thanks, I was wondering how I would complete the double entry.
So my client is still entitled to claim a full AIA in respect of the full cost of the new dairy machinery?

Reply to
Rollover relief into Fixed Plant & Machinery
25th Nov 2020

My apologies, I think I may have confused the issue here.

I am happy that the full sum is liable to income tax, what I was unsure of was whether the same rules applied for NIC - in particular is class 4 NIC due on the whole profit, even when part of that profit arose from self employed work carried out in Canada?

Reply to
UK National Insurance on overseas self employment
25th Nov 2020

My apologies, I think I may have confused the issue here.

I am happy that the full sum is liable to income tax, what I was unsure of was whether the same rules applied for NIC - in particular is class 4 NIC due on the whole profit, even when part of that profit arose from self employed work carried out in Canada?

Reply to
UK National Insurance on overseas self employment
12th Jul 2019

The question is whether my client will still qualify as being non-resident, due to the 3rd auto overseas test?

My concern being that her intentions would see her being in the UK for more than 90 days

Reply to
Statutory Residence Test - parenting leave in UK
7th Nov 2018

Apologies if I wasn't clear but the sister paid the brother and the third party both a sum of £90,000 each.

It was the transaction between the sister and brother I was concerned with. As they are connected, I would have normally used market value (discounted for the joint ownership).

Presumably in this case, as the sister was prepared to pay above that sum then the £90,000 would be substituted for the lower discounted market value?

Reply to
Sale of jointly owned property
20th Jul 2017

Post deleted

Reply to
UK income - individual emigrating to France
11th Oct 2016

Please ignore the above. I had myself confused and now fully understand the position!
Thanks

Reply to
Settlor Interested Trust
7th Mar 2016

Perhaps you could enlighten

Portia, Perhaps you could enlighten me further?

I am simply trying to work my way through the various implications of this purchase and ensure the best deal for my client.

Reply to
VAT on fixtures & fittings on business purchase
7th Mar 2016

Another issue has arisen and

Another issue has arisen and that is the matter of goodwill.

As this is the sale and purchase of a business, then if my client does not register for VAT will VAT be chargeable on that goodwill?

 

Reply to
VAT on fixtures & fittings on business purchase
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