Sale of Restaurant Lease+ equipment but not the business :)
Lina
Registered Posts: 41 Regular contributor ⭐
Hi,
I would appreciate if someone could give me advise on how to treat Restaurant's Lease Sale. Capital Gains or just as trading income.
Company had about 140,000 loss in the last two years. They started this business from the scratch: leased premises without any A4/5 licence, then got licence. Carried all necessary work in order to get approval for local council. They started to trade after about 1 year since they signed the lease.
If I treat the Income from Sale as Capital gains, will I be able to offset all trading loss for the past two
ears against the Gain?
They are keeping Company to themselves as they will carry out business once they find new premises. Their business is unlimited CIC.
Thanks for the answers
I would appreciate if someone could give me advise on how to treat Restaurant's Lease Sale. Capital Gains or just as trading income.
Company had about 140,000 loss in the last two years. They started this business from the scratch: leased premises without any A4/5 licence, then got licence. Carried all necessary work in order to get approval for local council. They started to trade after about 1 year since they signed the lease.
If I treat the Income from Sale as Capital gains, will I be able to offset all trading loss for the past two
ears against the Gain?
They are keeping Company to themselves as they will carry out business once they find new premises. Their business is unlimited CIC.
Thanks for the answers
0
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