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Vol 25 No 1 Jan/Feb 2020

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This book is now Out of Print.
A new edition has been published, the details can be seen here:
Incorporating and Disincorporating a Business 2nd ed isbn 9781780439044

Incorporating and Disincorporating a Business

ISBN13: 9781780434179
New Edition ISBN: 9781780439044
Published: March 2014
Publisher: Bloomsbury Professional
Country of Publication: UK
Format: Paperback
Price: Out of print

Incorporating and Disincorporating a Business gives clear guidance on the pros and cons of incorporating a business, giving the reader practical advice on the tax and legal implications and how to successfully navigate the process of incorporation. It also gives guidance on disincorporation and why this may be necessary and best practice when going through this process.

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. Appendices include standard claims, elections and proformas to make it even more practical for users.

There have been significant changes to incorporation in the last 5 years. The announcement in the 2013 Budget that the corporation tax rate will be further reduced to 20% in 2015 and the introduction of the Employment Allowance in 2014 (so that many businesses will no longer pay employer’s NIC) mean that many sole traders may look more closely at the benefits of incorporation.

Disincorporation relief is currently very topical as a time-limited disincorporation relief has been introduced in the Finance Bill 2013 (to take effect from April 2013), which removes certain tax barriers that existed when companies transferred from an incorporated to a sole trader or partnership status. This is particularly relevant to small companies and the book explains what businesses need to know about the new rules.

Company Law, Taxation
Part 1 – Incorporating a business

Section A: Deciding whether to incorporate
1. Business structures
2. Why incorporate?
3. Advantages and disadvantages of a company

Section B: Tax consequences of incorporation
4. Income tax and cessations
5. National insurance contributions
6. Capital Allowances
7. Capital gains tax
8. Stamp duty land tax
9. Inheritance tax
10. VAT

Section C: Other issues
11. Goodwill
12. Legal issues
13. Other considerations
14. Assets held outside the company
15. Extracting profits from family and owner-managed companies
16. Close companies
17. The settlements legislation
18. Employment status
19. Investment business

Part 2 – Disincorporation

20. Why disincorporate?
21. Tax issues for the company
22. Tax issues for shareholders
23. Disincorporation relief
24. Dissolving the company
25. Liquidating the company.