INCORPORATION RELIEF

INCORPORATION RELIEF

In instances where a business has been transferred to a company, and shares have been received in return, you could be eligible for a delayed payment of Capital Gains Tax (CGT), known as incorporation relief. The delayed payment of CGT is until such a point where the acquired shares in the company are disposed of in the future. Incorporation relief can be used in circumstances where the business transfer has resulted in only shares being received as well as where they have been subsidized by cash, in which case CGT will need to still be paid on the cash proceeds. 

INCORPORATION RELIEF TAX SUPPORT

Calculating CGT owed can be a complicated and time-consuming process, especially in the midst of a business transfer. To make sure it is the best decision for your personal circumstances, it can help to get the advice of a trained accountant, who will work with you during the process. Whether you are in a business partnership or are a sole trader, our professional team at The Accountancy Solutions can help you during the transfer of your business.

We can provide professional advice in all areas of the incorporation relief and ongoing CGT management, including:

  • Capital Gains Tax on Cash While Under Incorporation Relief
  • Capital Gains Tax Returns
  • Record Keeping
  • Capital Gains Tax Losses and Gains Calculations
  • Capital Gains Tax Reliefs
  • Capital Gains Tax Return Amendments

Advice for Incorporation Relief

For support through your business transfer and use of the incorporation relief scheme, our expert accountants are always on hand. Trained in all areas of CGT and experienced in the use of business reliefs and allowances, you can trust our professional team to ensure that you CGT affairs are in order. To learn more about the incorporation relief and whether you’re eligible, don’t hesitate to contact The Accountancy Solutions today.

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