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bigduckontax
bigduckontax, Accountant
Category: Tax
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Dear Sirs I require advice regarding a scenario please.

Customer Question

Dear Sirs
I require advice regarding a scenario please.
Facts
- Investment Holding Company – UK Ltd Holding Company
- Company has various assets in it, of which there is also the below:
- The company holds a building (worth £210,000 Market Value today) and plant and machinery (Worth £54,000 today, which has depreciated over time) –
- The company is non trading and is receiving rent for the use of these assets.
- Cost of building £35,000 and purchased in Jan 1982
- Building was extended in 1987 and cost was £65,000
- Two Shareholders (A & B) owning 50% shares each equally from 1982
- Shareholder B - Deceased in 2016.
- Shareholder B has passed on 50% shareholding to Spouse post probate. (Therefore the new shareholder B is the spouse)
- Shareholder B wants to purchase the building from the holding company into a new incorporated company along with the plant and machinery from Share Holder A. This will mean Shareholder B will be the 100% shareholder of the new company holding the building and plant and machinery and shareholder A of the current holding company will have no ownership in the building and assets any longer.
- However, shareholder B - will still have 50% shares in the original holding company, which will still contain and hold other assets that are not mentioned above.
- What is the best way Shareholder B can purchase the building and machinery in the most tax efficient way from the holding company in to the new incorporated company?
- What will be the capital gains tax, stamp duty tax and corporation tax implications?
- What is the most efficient way to do this?
Submitted: 14 days ago.
Category: Tax
Expert:  Nicola-mod replied 13 days ago.
Hello,
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Nicola
Customer: replied 13 days ago.
Please issue me with a full refund. I paid for a quick response and am very dissapointed with the service. Please issue me with a full refund.
Expert:  bigduckontax replied 13 days ago.

You must apply to Just Answer Administration for a refund of your fee. Tax experts cannot assist in this.

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