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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 2

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.

 

 

 

The first episode covers:

 

  • S162 relief

  • The incorporation procedure and which assets must be transferred

  • The issues arising from goodwill

  • Tax treatment of director’s loans

  • D32 concession and why it is important

  • Gift relief

  • Dealing with a retiring partner

  • The closing year considerations

 

The second episode covers:

 

  • Practical administration guidance on incorporation

  • Tax issues with capital allowances and stock

  • How to include new partners / shareholders in the new entity

  • LLPs

  • Property and SDLT and the importance of sum of lower proportions

  • Important tax cases to consider

  • Scheme warning that will not work

  • ATED consideration

Chapter headings and timings for episode 1

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

Chapter headings and timings for episode 2

3:51      Brief coverage of administration points to watch

4:00      MTD, VAT and registering for tax

5:04      New VAT number delays to plan for

6:33      Transfer of plant and machinery

6:57      Tax issues on stock

8:08      Bringing in new partners / shareholders to the new entity

10:26    LLPs - points to watch out for

12:41    Transfer of the property

13:36    SDLT and sum of lower proportions - how it works

20:39    Does gift relief have any role to play?

22:16    Is the property business a business or not?

24:26    The indicators of whether a business exists

30:54    Factors to consider on ATED

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