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Incorporating and Disincorporating a Business 3rd edition [Pehme köide]

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  • Formaat: Paperback / softback, 552 pages, kõrgus x laius: 234x156 mm
  • Ilmumisaeg: 25-Apr-2019
  • Kirjastus: Bloomsbury Professional
  • ISBN-10: 1526507692
  • ISBN-13: 9781526507693
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Incorporating and Disincorporating a Business 3rd editionSuurem pilt
  • Formaat: Paperback / softback, 552 pages, kõrgus x laius: 234x156 mm
  • Ilmumisaeg: 25-Apr-2019
  • Kirjastus: Bloomsbury Professional
  • ISBN-10: 1526507692
  • ISBN-13: 9781526507693
Teised raamatud teemal:
Püsilink: https://www.kriso.ee/db/9781526507693.html
Märksõnad:
Incorporating and Disincorporating a Business, Third Edition 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 companys business to a sole trader or partnership.

This authoritative handbook includes detailed coverage on all tax issues that might apply to small businesses, including income tax and NICs, CGT, IHT, VAT and stamp taxes as well as in-depth content on how to deal with legal and accounting compliance issues.

Since the publication of the last edition in early 2016, there has been significant legislative change reflected in several Finance Acts. This edition has been updated to reflect those changes. The changes include:

Entrepreneurs relief: the relief restriction on the acquisition of goodwill from related parties (FA 2016) and subsequent changes to the relief conditions (FA 2019) Dividend tax reforms (FA 2016) The anti-phoenixism targeted anti-abuse rule (FA 2016) Change in tax rate for loans to participators (FA 2016) Capital allowances changes including increase in annual investment allowance and the new structures and buildings allowance (FA 2019)

The practical assistance contained within this book includes numerous worked examples, key point summaries, pro-forma elections and tables comparing the overall tax position for incorporated and unincorporated business owners, including the comparative tax impact of a bonus vs dividends.

This edition includes a chapter on the complex area of incorporating a limited liability partnership and a new chapter on incorporating a rental property business. 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. Tax practitioners, accountants and business proprietors will all benefit from the expert guidance offered by this book.

Muu info

Details the planning points and pitfalls which may be encountered when incorporating a sole trade or partnership business, or when transferring a companys business to a sole trade or partnership.
Preface v
Table of statutes
xv
Table of statutory instruments
xxvii
Table of cases
xxix
List of abbreviations
xxxiii
Chapter 1 Why incorporate?
1(56)
Signposts
1(1)
Introduction
2(2)
Operating through a company
4(7)
Effect of losses
11(4)
Post-incorporation: issues to consider
15(1)
Relief of disallowable expenses
15(1)
Corporate `moneybox'
16(2)
Limited Liability
18(1)
Raising finance
18(5)
Relief for intangible fixed assets
23(4)
Research and development relief
27(2)
Patent box
29(2)
Substantial shareholding exemption
31(1)
Rewarding key employees
32(6)
Some disadvantages
38(3)
Scottish taxpayers
41(6)
Planning points
47(1)
Appendix: Incorporation - level of profit for advantage
48(1)
Introduction
48(1)
Is incorporation worthwhile?
48(4)
Is incorporation worthwhile for Scottish taxpayers?
52(5)
Chapter 2 Income tax and cessations
57(14)
Signposts
57(1)
Introduction
57(1)
Cessation computation
58(6)
Payment of tax
64(1)
Treatment of stock and work in progress
65(3)
Cash basis business cessations
68(1)
Planning points
69(2)
Chapter 3 National Insurance contributions
71(14)
Signposts
71(1)
Introduction
72(1)
Class 2 and Class 4 contributions
72(1)
Class 1 contributions
73(2)
Class 1A contributions
75(1)
Combined effect
76(1)
The year of incorporation
77(2)
State pension
79(2)
Employment allowance
81(1)
Planning points
82(3)
Chapter 4 Capital allowances
85(20)
Signposts
85(1)
Plant and machinery
86(17)
Commercial, industrial and agricultural buildings etc
103(1)
Planning points
104(1)
Chapter 5 Capital gains tax
105(40)
Signposts
105(1)
Introduction
106(2)
Entrepreneurs' relief
108(4)
Chargeable assets to transfer
112(1)
Deferred gains
113(1)
Sale proceeds
114(1)
Section 162 relief
115(12)
Section 165 relief
127(3)
Intellectual property
130(2)
Sections 162 and 165 compared
132(2)
Enterprise investment scheme
134(3)
Sale of business following incorporation
137(1)
Sole trader/partnership
137(1)
Company
138(3)
Footnote
141(1)
Planning points
142(3)
Chapter 6 Stamp taxes
145(42)
Signposts
145(2)
General SDLT.LBTT and LTT rules
147(19)
Reliefs
166(8)
Partnerships
174(2)
Leases
176(3)
Anti-avoidance provisions
179(2)
Stamp duty and SDRT
181(4)
Planning points
185(2)
Chapter 7 Inheritance tax
187(20)
Signposts
187(1)
Transfers and reliefs
187(3)
Business property relief
190(11)
Agricultural property relief
201(3)
Property in or out
204(1)
Planning points
205(2)
Chapter 8 Value added tax
207(6)
Signposts
207(1)
Introduction
208(1)
Transfer of a going concern
208(1)
Land and buildings
209(1)
VAT registration
209(2)
Other points
211(1)
Planning points
212(1)
Chapter 9 Goodwill
213(16)
Signposts
213(1)
Introduction
214(4)
Nature of goodwill
218(1)
Personal goodwill
219(3)
Valuation of goodwill
222(3)
Goodwill and trade-related property
225(1)
Goodwill and other intangible fixed assets
226(1)
Planning points
227(2)
Chapter 10 Legal issues
229(28)
Signposts
229(1)
Company formation
229(6)
Decisions of the members
235(1)
Document of transfer
235(4)
Company returns and notifications
239(5)
Corporation tax returns
244(2)
Employer returns
246(3)
Valid dividends
249(7)
Planning points
256(1)
Chapter 11 Accounting and other considerations
257(24)
Signposts
257(1)
Introduction
258(1)
Accounting for the incorporation transaction
258(7)
Banking
265(1)
Insurance
265(1)
Mortgages
266(1)
National minimum wage
266(3)
Professional bodies, etc
269(4)
Relief for interest paid
273(3)
Who to tell
276(3)
Business rates
279(1)
Planning points
279(2)
Chapter 12 Assets held outside the company
281(16)
Signposts
281(1)
Introduction
281(1)
Entrepreneurs' relief
282(4)
Rollover relief
286(3)
Rent
289(4)
Inheritance tax
293(2)
Planning points
295(2)
Chapter 13 Corporate profit extraction
297(48)
Signposts
297(2)
Introduction
299(1)
Dividend taxation
299(2)
Bonus v dividend
301(4)
Dividend or employment income?
305(1)
Salaries
306(5)
Pensions
311(6)
Employment allowance
317(1)
Other extraction methods
317(1)
Company cars
318(9)
Tax-favoured benefits in kind
327(6)
The director's loan account
333(2)
Rent
335(1)
Overall comparison
336(1)
Tax credits
337(7)
Planning points
344(1)
Chapter 14 Close companies
345(18)
Signposts
345(1)
Introduction
345(1)
What is a close company?
346(2)
Loans to participators
348(9)
Beneficial loans
357(1)
Clearing the loan
358(2)
Additional distributions
360(1)
Planning points
361(2)
Chapter 15 Anti-avoidance
363(24)
Signposts
363(1)
Introduction
364(1)
Settlements
364(3)
Settlements: law and practice
367(2)
Settlements: case law
369(2)
Settlements and HMRC
371(2)
Settlements: where are we now?
373(6)
Sales of occupation income
379(4)
Transfers of income streams
383(2)
Planning points
385(2)
Chapter 16 Employment status
387(12)
Signposts
387(1)
Introduction
387(1)
Personal service company
388(7)
Managed service company
395(1)
Construction industry scheme
396(2)
Planning points
398(1)
Chapter 17 Incorporation of a rental property business
399(34)
Signposts
399(2)
Introduction
401(2)
What is a business?
403(4)
Transactions in UK land
407(2)
Capital gains tax
409(4)
Stamp duty land tax and other land taxes
413(7)
Interest relief
420(5)
'Enveloped' rental properties
425(4)
Advantages of a rental property company: general points
429(1)
Other issues
430(1)
Planning points
431(2)
Chapter 18 Incorporation of a limited liability partnership into a limited company
433(8)
Signposts
433(1)
Introduction
434(1)
Why incorporate an LLP?
434(1)
Why incorporate the business of an LLP into a company?
434(1)
Mixed member partnerships
435(1)
Key issues on the incorporation of an LLP
435(1)
Transfer by the LLP
436(1)
Consideration received by the LLP
437(1)
What happens to the LLP post-incorporation?
438(1)
Capital gains tax reliefs
439(1)
Planning points
440(1)
Chapter 19 Why disincorporate?
441(8)
Signposts
441(1)
Introduction
441(1)
Why disincorporate?
442(2)
What is disincorporation?
444(1)
What are the barriers to disincorporation?
444(2)
What happens to the transferor company?
446(1)
Other points
447(1)
Planning points
447(2)
Chapter 20 Disincorporation - tax issues for the company
449(14)
Signposts
449(1)
Introduction
450(1)
How to disincorporate
450(1)
Tax issues for the company
451(1)
Gains on the disposal of assets
451(1)
Chargeable gains
452(3)
Goodwill (and other intangible assets)
455(2)
Other potential tax charges
457(3)
Other tax issues
460(1)
Planning points
461(2)
Chapter 21 Disincorporation - tax issues for individual shareholders
463(10)
Signposts
463(1)
Introduction
464(1)
How to disincorporate
464(1)
Sale to the shareholders
465(1)
What is a distribution?
465(1)
Income distributions
465(1)
Distribution of an informal winding up
466(1)
Distribution on a formal winding up
467(2)
Other tax issues for shareholders
469(3)
Planning points
472(1)
Chapter 22 Disincorporation relief
473(12)
Signposts
473(1)
Introduction
474(1)
Disincorporation relief
475(5)
Shareholders' tax position
480(1)
Disincorporation relief claim
481(1)
Practical points
482(1)
Planning points
483(2)
Chapter 23 Winding up the company
485(10)
Signposts
485(1)
Introduction
486(1)
Informal winding up
486(3)
Formal winding up
489(4)
Planning points
493(2)
Index 495
Mark McLaughlin CTA (Fellow) ATT (Fellow) TEP is a member of the Chartered Institute of Taxations Capital Gains/Investment Income and Succession Taxes Technical Committees. He is a consultant with the TACS Partnership (www.tacs.co.uk). Jackie Anderson is a Chartered Accountant and Chartered Tax Adviser.