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From 6 April 2016 a Targeted Anti-Avoidance Rule (TAAR) this rule applies if you have a 'tax motivated' reason to wind up your company and it potentially affects the tax treatment of any cash being withdrawn on liquidation.

When the rule applies your cash distribution will be taxed under the income tax rules. 

This rule specifically targets the practice of closing a company in order to obtain capital gains tax rates of tax on your income.

Will the money you receive on winding up your company be taxed under the Capital Gains Tax rules or will the Targeted Anti-Avoidance Rule (TAAR) apply and you will be taxed as if you receive a distribution?

To find and out and see, check the TAAR

To buy the tool and TAAR guide or any of the others in the VtaxP toolbox fill in the box below and write TAAR.

This Virtual Tax Partner © 'VtaxP' © tool checks to see if the Targeted Anti-Avoidance Rule (TAAR) is likely to apply.

What do you get when you purchase this tool?

You will receive the TAAR tool, together with guidance on the TAAR and winding up your company.

Duration: 365 days
Price: £159.00

Not a subscriber to www.rossmartin.co.uk? Then sign up and this VtaxP TAAR tool comes FREE with your subscription.

Renew your subscription or subscribe for the first time to unlock the practical tax database at www.rossmartin.co.uk.

The annual fee for a sole practitioner: i.e. a sole trader or single director corporate practice,who is trading out of one office is only £425 + VAT. If you are a multi-partner/director firm, the cost is £135 + VAT per additional partner/director (you get one free with each office!).

If you have more than one office then go to the Multi Office subscription (next one down). You are given one free partner/director per office, if you have multiple partners/directors you pay £135 + VAT per additional person.

 

Duration: 365 days
Price: £425.00

Subscribe to unlock www.rossmartin.co.uk. The annual fee is just £434 + VAT, per office.

If you have more than one office then you pay £434 + VAT per extra office. this costing gives you one free partner/director per office: these are automatically given logins.

If you are a multiple partner/director business you pay £135 + VAT per fee earning partner or director, this is regardless as to whether they use the service. 

Duration: 365 days
Price: £434.00

 

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