Purchase of own shares: Tax and company law – What happens if the transaction is void under company law?

Purchase of own shares: Tax and company law – What happens if the transaction is void under company law?

Purchase of own shares: Tax and company law The default tax position where an unquoted trading company buys back its shares from an individual shareholder is broadly that the shareholder who sells his or her shares is treated as receiving a distribution for income tax purposes, similar to a dividend. The amount of the distribution. Read more

Entrepreneurs’ relief: Personal Company – Some practical issues and potential pitfalls.

Entrepreneurs’ relief: Personal Company – Some practical issues and potential pitfalls.

Entrepreneurs’ relief: Personal Company Tax advisers with owner-managed business clients will probably come across entrepreneurs’ relief issues fairly regularly. The relief offers a reduced CGT rate of 10% on total net chargeable gains of up to £10 million. The relief is available on a disposal of business assets as defined in the legislation, but the. Read more

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