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Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 7274
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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I want to know if a limited company has made a profit

Customer Question

Hi
I want to know if a limited company has made a profit on a property transaction and reinvested this profit in the same tax year does the company has to pay corporation tax on the profit .
example:
Purchase £100,000.-
Sale: £150,000.-
again purchased a property for £ 150,000.-
Submitted: 1 year ago.
Category: Tax
Expert:  Sam replied 1 year ago.
Hi Thanks for your question - I am Sam and I am one of the Uk tax experts here on Just Answer. Sadly they do as this would not be considered as a business asset on which relief to roll over might be considered as owned by the limited company and not an individual. Thanks Sam

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