Tag Archives: Incorporation relief

It’s a ‘business’: HMRC says so!

It might be considered straightforward enough to identify a ‘business’. However, that is not necessarily the case. HMRC will not give advance clearance on whether activities constitute a business. However, this question can be important for various tax purposes. An important issue For example, whether a business exists is a potential issue for many buy-to-let… Read More »

Incorporating a buy-to-let property LLP into a company

A limited liability partnership (LLP) is treated like an ‘ordinary’ partnership in many respects. However, an important distinction arises where a business incorporates into a company. Separate legal entities Like a company, an LLP is a separate legal entity. When (for example) a business carried on by an ordinary partnership of individuals is incorporated into… Read More »