Incorporation

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We advise on the most tax efficient way of incorporating businesses carried on by sole traders or partnerships covering capital gains tax, stamp duty, income tax on cessation and EIS relief.

The approach we adopt is to consider three key questions:

Step One

Consider if incorporation is commercially right for the business by looking at the “Pros” and “Cons.

Step Two

Consider the level of profits made by the trader and whether the sums drawn by him justify incorporation

Step Three

Consider in depth the tax implications of the proposal.
These include:

1.   Income tax
2.   VAT
3.   Capital Gains Tax
4.    Inheritance Tax
5.   Stamp duty

And finally…..

Don’t forget about the logistical costs of incorporation, such as getting new stationary, changing banking arrangements, etc.