Documents related to 'Holdover relief claim'
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Election to transfer gain or loss to another group company Where a company makes a capital gain or loss in respect of an asset, it may jointly elect with another company within the same group to transfer the gain or loss to that company. The purpos... Read more
08 Jan 2015
Election to transfer assets at written down valueWhere you transfer your sole trader or partnership business to a company, plant and machinery or other tangible fixed assets are often transferred too. Strictly, these assets have to be transferred at ... Read more
23 Nov 2016
Claim for relief for damaged assetCapital gains tax may be payable if you receive compensation for damage caused to one of your assets. However, if you use the amount received to repair or restore the asset, you can defer the tax.DamageWhen an asset ... Read more
10 Nov 2017
CGT rollover relief claim When you've sold an asset that was used in your business, and this results in a capital gain, it's possible to defer or even avoid tax on this by claiming rollover relief. Selling a business assetCapital gains tax (CGT) applie... Read more
29 Jul 2009
Election for business asset disposal relief to apply to QCBsWhen you sell a business the purchasing company might offer to pay you with loan notes. This is a loan arrangement but in the form of a security, i.e. like shares. The loan notes pay interes... Read more
04 Nov 2016
Intangible asset rollover relief claimIf your company sells a chargeable intangible fixed asset, it can give rise to a gain which is subject to corporation tax. However, if further intangible assets are bought, rollover relief for the gain can be cla... Read more
09 Nov 2017
Claim for a capital loss outside self-assessmentIf you sell an asset for less than it cost, you will have made a capital loss. Usually, you are required to claim tax relief for a capital loss through your self-assessment tax return but if you don't co... Read more
20 Jun 2017
Claim for small part disposal of landIf you sell any part of a plot of land you must work out if you made a capital gain or loss on the transaction. However, if conditions are met, you can make a claim under s.242 Taxation of Chargeable Gains Act 199... Read more
06 Mar 2017
Claim for a capital loss for an irrecoverable loan to a traderIf you made a loan to a business which it cannot repay, the amount remaining outstanding may be treated as a capital loss. HMRC requires conditions to be met before it will accept the loss... Read more
24 Sep 2009
CGT negligible value claimIf you own an asset that has become of negligible value, i.e. worthless, you can make a negligible value claim which entitles you to treat the asset as if it were sold for nothing. The effect of this is to create a capital l... Read more
13 Nov 2009
