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Our client, a music publisher who is both resident and domiciled in Italy, wishes to sell his interest in the publishing rights to a catalogue of music through a UK registered limited company (not yet formed) in order to take advantage of a more buoyant market in London for this product. It is proposed to sell the catalogue to the company for £100,000 with a sales expectation of £400,000. Once the catalogue has been sold, there would be no further use for the company.
Readers' comments would be appreciated on the following points.
Our client a music publisher who is both resident and domiciled in Italy wishes to sell his interest in the publishing rights to a catalogue of music through a UK registered limited company (not yet formed) in order to take advantage of a more buoyant market in London for this product. It is proposed to sell the catalogue to the company for £100 000 with a sales expectation of £400 000. Once the catalogue has been sold there would be no further use for the company.
Readers' comments would be appreciated on the following points.
First are there any restrictions to forming a UK registered company for the sole purpose of a single sales transaction?
Secondly having paid tax due on the profit from the sale would there be any further costs in winding up the company?
Finally what...
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