Incorporating and Disincorporating a Business, 2nd ed provides clear, detailed and practical guidance on the tax issues, planning points and pitfalls which may be encountered when incorporating a sole trader or partnership business, or when transferring a company's business to a sole trader or partnership.
This authoritative handbook considers the taxation implications when an existing business is transferred to or from a company, provides a thorough analysis of the advantages and disadvantages of such transactions and addresses related issues in company and commercial law, as well as in other areas.
This second edition covers:-
- Capital gains tax entrepreneurs' relief restrictions on disposals of goodwill to a related party upon incorporation, and the corporation tax intangible fixed assets restriction of claims for the amortisation of goodwill
- Other relevant changes introduced in Finance Act 2015 and Finance (No 2) Act 2015
- The new dividends tax regime for companies, which potentially affects corporate profit extraction following incorporation
- The incorporation of limited liability partnerships
- Relevant case law such as Roelich v HMRC (incorporation relief under TCGA 1992, s 162), Keyl v HMRC (capital allowances on incorporation) and Wildin v HMRC (goodwill valuation upon incorporation)
The practical assistance contained within this book includes numerous worked examples, tables comparing the overall tax position for incorporated and unincorporated business owners, precedents, sample claims and elections.
This edition includes chapters which have been consolidated, restructured and renamed, to make the book as a whole easier to follow and understand. The user-friendly structure features 'signposts' at the beginning of each chapter to provide a useful summary of the main points and 'focus points' which highlight important issues in each chapter.
