Partnership Incorporation
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JJH1969
Registered Posts: 110 Epic contributor 🐘
I am just doing my first transfer of a partnership to a LTD company. Does the partnership return need to show a disposal of chargeable assets for the goodwill or does everything go on the individuals tax returns? The goodwill as about £15k between the two partners. The partnership ceased on 31.3.13 and the new Ltd company started on 1st April 2013. How does the stock, debtors, bank etc get transferred to the new Ltd Company and what happens to the Capital Accounts of the partners - do they go to Directors Loan Account?
Thank you in anticipation!
Thank you in anticipation!
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