Or do you know anyone who trades as a sole trader or partnership?
If so, transferring an unincorporated business to a limited company can provide fantastic tax savings. Not only are you likely to pay less tax on an annual basis in future, but, depending on the particular business, there's often an amazing one-off opportunity to save tax on the transfer of the business into the company. I've personally used this system a number of times, saving one client over £200,000 in tax in the process.
But, from 6 April, thanks to the changes to CGT proposed by the government, although the option will still be there, the tax savings are going to slashed. So, if you - or anyone you know - might be able to benefit from moving to a limited company, tell them to talk to Fizz straight away!
Comments