The shares of a trading company are owned by three individuals. One of them wishes to leave. The suggestion is that a new company is formed that will purchase the trade of the existing one and then equalise the remaining shareholdings
A cafe owner wishes to sell his business, which is operated by his limited company. As director, he is still owed £18,000 from monies previously loaned to the company
A will trust owns and operates the business of a school. The trustees wish to form a limited company, of which the trust will be the sole shareholder, to which the school assets and liabilities will be transferred. Questions of entitlement to incorporation and entrepreneurs’ relief are examined.
A taxpayer has moved from his main residence to another property and wishes to let his father occupy the old house for the foreseeable future
Problems to avoid if you want to claim entrepreneurs’ relief
Partnership taxation deserves a firm and clear statutory basis
A client has become very wealthy over many years, but now has little income that is subject to tax. He wishes to make substantial gifts to charity, but is concerned that gift aid will not be of benefit
Phased completion can affect other shareholders’ relief
Two shareholders own eight properties through an investment company. They wish to go their own way and would like to achieve this by forming two separate companies, each owning four properties
A client made payments into a seed enterprise investment scheme and an enterprise investment scheme in 2012/13 and 2013/14. No certificates were received in time for submission of the 2012/13 tax return
One-third of the garden of a client’s only or main residence is to be sold for £250,000 and another house will be built on the ground. The whole property was originally purchased for £200,000
G Weston (TC3152)
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