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Thread: Anyone who needs TAX / Accounting Advice

  1. #71
    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by Imp View Post
    Hi i meant entertainment for staff such as year end functions or team building events.
    AFAIK you won't be able to claim input VAT on the end of year staff function, but teambuilding might also be described as training...
    The trouble with opportunity is it normally comes dressed up as work.

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    Hi Itai. I have a property business and may receive funds from abroad from potential investors. Are these funds deemed to be income in the current tax year (i.e. when funds are received)? Would my business be taxed on the entire funds or may I deduct certain costs/expenses etc.? What rate of tax would that be...??
    I would appreciate some input if you can assist. I am not very good at the finance stuff...
    Many Thanks

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    If the funds are an investment (loan or equity) then they are not income and are not taxed.

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    Share Transfer

    Hi Itai,

    My Client has shares in a company( Lets call this company X). Now he wants to start a new company (company Y). He wants to use the shares that he owns in company x as initial capital in company Y. This will then be the only assets in company Y. What would the tax effect be on this transaction?


    Regards

    Juan-Pierre

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