You’re considering transferring your unincorporated business to a company, primarily to save tax and NI. This can be done without triggering a tax bill but there’s more than one way to achieve this.
What are your options?
Published 07.09.2021
It can be tax efficient on some occasions to transfer an asset to a connected party for a nominal sum (e.g. £1). However, as you’d expect, the Taxman may query this. What’s your best defence against
this?
Published 02.12.2004
In December 2014 HMRC introduced rules which blocked the tax break for sole traders and partners who were paid for the goodwill of their business when they transferred it to a company. How can you
work around the block?
Published 14.09.2018
There are various tax pros and cons when transferring your unincorporated business to a company. One of the cons can easily be overlooked and involves inheritance tax (IHT). What is it and how can
you avoid it?
Published 02.11.2020
Last year, one of our subscribers transferred his sole trader business to a company, but some income and expenses went through in the wrong bank account. Could this trigger an enquiry if the Taxman
looks at the records?
Published 15.06.2012
A large tax-free loan account can be generated when a business is incorporated. However, the Taxman has learnt a new way to attack this and collect more tax. What do you need to be aware of?
Published 23.10.2008
Your business is growing steadily and your accountant has advised you transfer it to a company to save income tax. For maximum tax efficiency should you do this immediately or delay?
Published 08.09.2020
You’re over the moon because your Christmas wish is granted in the form of a top of the range Apple Mac. But how can you use a simple tax break to make a great gift even better?
Published 10.12.2013
Your business started a year ago and is now doing well so you want to transfer shares in the company to your spouse. You’ve heard this must be done a certain way or it won’t be effective for tax.
What are the traps to look out for?
Published 10.12.2013
Transferring an unincorporated business to a company can produce immediate tax savings. The bad news is that HMRC has anti-avoidance powers to block these. What are they and how can you counter them?
Published 13.11.2019