IncorporationWe advise on the most tax efficient way of incorporating businesses carried on by sole traders or partnerships including consideration of Capital Gains Tax, Stamp Duty, Income Tax on cessation and EIS Relief.
Our approach is to consider three key questions:
Consider if incorporation is commercially right for the business by looking at the "Pros" and "Cons".
Consider the level of profits made by the trader and whether the sums drawn by him justify incorporation
Consider in depth the tax implications of the proposal. These include:
- Income tax
- Capital Gains Tax
- Inheritance Tax
- Stamp duty
We also encourage our clients to consider the logistical costs of incorporation, such as getting new stationery, changing banking arrangements, etc.