Incorporating and disincorporating a business - Mark McLaughlin

Incorporating and Disincorporating a Business provides clear, detailed and practical guidance on the tax issues, planning points and pitfalls which may be encountered when incorporating a sole trade or partnership business, or when transferring a company's business to a sole trader or partnership. This book considers the taxation implications of incorporation and disincorporation, and also addresses related company law, commercial and other practical issues. It aims to guide readers through the advantages and disadvantages of incorporation and disincorporation.The book is written in jargon-free English and includes numerous examples to assist in the understanding of the tax and other issues involved when an existing business is transferred to or from a company. It is intended as a single point of reference for tax practitioners and business proprietors who need a practical guide to tackling the complexities of incorporating and disincorporating a business.
Incorporating and Disincorporating a Business adopts a user-friendly layout with each chapter including 'Signposts' at the beginning, 'Focus' points to highlight important considerations, checklists and worked examples throughout. Standard claims, elections and proformas are also included to make it even more practical for users.Incorporating and Disincorporating a Business provides comprehensive coverage of:. Capital gains tax implications and reliefs, including incorporation reliefs under the Taxation of Chargeable Gains Act 1992, ss 162 and 165;. Income tax on cessation of the unincorporated business, including stock and fixed asset elections;. Particular tax issues upon incorporation, such as goodwill valuation and extracting profits from family and owner-managed companies;. Disincorporation relief introduced in Finance Act 2013; and. Relevant case law: including Ramsay v HMRC ('business' for incorporation relief purposes) and HMRC v PA Holdings Ltd (dividends treated as employment income).