Brian G Lonis & Co is a leading business working in tax returns London clients rate highly. Being advisors on the subject, it’s up to us to aid you in understanding how tax works. With our help you can learn about the effects of your actions. In addition, you can figure out how to manage your affairs more effectively.
People purchase, sell, and give away companies all the time. You don’t want to disregard the tax implications here though. Doing so could be a potentially costly mistake. Of course, sellers and buyers must approach each transaction with their aspirations and goals in mind. They should also consider all of the options before they commit.
Get the right help
There’s something else that every UK business taxpayer must realise. They’ll likely need a tax professional. Our people are great examples. They will determine the ‘bottom line’ for every party when a business changes hands.
For purchasers, the problem is how to structure the deal. This is so they can optimise their tax position. Some may want to merely buy assets and not purchase the business outright. This avoids the requirement to take on an establishment’s liabilities. Buying a company also raises another concern; acquiring benefits from tax losses brought forward.
Legislative rulings
This area is subject to various complex legislative rulings too. As a result, purchasers wanting to secure benefits need to get advice from experts. Any share purchase can incur stamp duty too. Moreover, the purchase could include gaining commercial real estate. If it does, the purchaser must pay Stamp Duty Land Tax. Finally, buyers have to know that buying a company means inheriting tax commitments.
At Brian G Lonis & Co, helping you with your tax concerns is our number one priority. You can ask for our guidance on numerous subjects. This includes self-assessments, personal tax planning, and corporation tax.
It is our pleasure to offer the most reliable advice about tax returns London clients can ask for. If you want to get started as soon as possible, contact us today.