Podcast Episodes
A summary of each podcast episode is shown below. You can download the episodes where you usually obtain your podcasts including: Apple Podcasts, Amazon music, Spotify, Google podcasts, Podcast addict, Podchaser, PlayerFM or play from the link below. The podcasts provide tax CPD for accountants based in the UK
CPD tax podcast covering incorporation - part 1
Contact Nick Wright
E-mail: nickwright@jerromsmiller.co.uk
Office: 0121 693 5000
Mobile: 07891 203889
Website: www.jerromsmiller.co.uk
LinkedIn:
This episode looks at how to incorporate a sole trader or partnership
The guest is Nick Wright of Jerroms Miller a leading UK specialist in taxation. Nick is a published tax author in publications including Taxation. Nick can be contacted for consultancy at www.jerromsmiller.co.uk or nickwright@jerromsmiller.co.uk.
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Nick Wright ACA CTA
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Jerromsmiller.co.uk
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0121 693 5000
This is the first episode of two covering incorporation relief and procedures. In this episode we look at
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S162 relief
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The incorporation procedure and which assets must be transferred
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The issues arising from goodwill
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Tax treatment of director’s loans
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D32 concession and why it is important
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Gift relief
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Dealing with a retiring partner
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The closing year considerations
Chapter headings and timings
3:46 Extra notes for episode
4:38 Overview of incorporation process
5:47 Understand the business
6:55 s162 Incorporation relief
7:36 Do you have to incorporate into a new company?
9:01 How to split the consideration
12:52 DLA and capital losses
13:30 Cash balances
16:12 Tax planning for the timing of the transfer
16:56 162 procedures
18:27 Goodwill and director's loan accounts
19:35 What you have to do with goodwill
20:10 D32 concession and practical examples
23:02 Do we transfer partners in same ratios as in the partnership
25:35 Disapplying s162
26:40 The possible role of gift relief
29:54 Investments
32:48 Role of subsidiary companies
33:02 The closing year computation
36:00 How to contact Nick
