Meet the Wilsons Part 3 - The TV bonkers debate

Thrugelmir

Harry_Powell wrote: »

The wilsons have their property empire held within a limited company framework, so there is no Capital Gains tax to worry about when they sell any houses. Sorry if this information stops the frothers dead in their tracks.

So enlighten us as to what taxes they pay on the disposal of capital assets?

Harry_Powell

Thrugelmir wrote: »

So enlighten us as to what taxes they pay on the disposal of capital assets?

Businesses pay corporation tax, not capital gains. Are you suitably enlightened?

Lance

Harry_Powell wrote: »

Businesses pay corporation tax, not capital gains. Are you suitably enlightened?

That's right! They pay less tax and when they go bust they don't lose anything personel they just wash their hands and start again. Actually it's not right, is it!

Thrugelmir

Harry_Powell wrote: »

Businesses pay corporation tax, not capital gains. Are you suitably enlightened?

Suggest you consult the HMRC in that case before making any more business decisions.

Harry_Powell

Thrugelmir wrote: »

Suggest you consult the HMRC in that case before making any more business decisions.

Like this? :
http://www.hmrc.gov.uk/agents/started-cgt.htm#3

Capital gains for companies

Corporation Tax is the tax paid by companies on their profits. Unincorporated organisations (such as clubs and societies) also pay Corporation Tax.
Companies and unincorporated organisations can be liable to pay Corporation Tax if they make capital gains. Tax liability in respect of capital gains is then accounted for through the Corporation Tax Self Assessment system.
Tax on capital gains for businesses on the Business Link website (Opens new window)

Suggest you get your head out of your ar se.

Suggest you look up the word supercilious and look in the mirror. lol :rotfl:

Thrugelmir

Harry_Powell wrote: »

Suggest you get your head out of your ar se.

Suggest you look up the word supercilious and look in the mirror. lol :rotfl:

Pleasant response. Just thought I would turn over the stone and see what crawled out. :eek:

Don't worry i won't bait you further. Its really not my style. :beer:

Harry_Powell

Thrugelmir wrote: »

Pleasant response. Just thought I would turn over the stone and see what crawled out. :eek:

Yeah, course you did. You pretended you didn't know what you were talking about as a ploy. :rotfl:

Thrugelmir wrote: »

Don't worry i won't bait you further. Its really not my style. :beer:

Phew, what a lucky escape! You really had me on the ropes there with your superior intellect! :rotfl::rotfl::rotfl::rotfl:

chucknorris

You aren't taking any prisoners today Harry are you? Definitely looks like a shoot to kill policy.

dopester

Harry_Powell wrote: »

The wilsons have their property empire held within a limited company framework, so there is no Capital Gains tax to worry about when they sell any houses. Sorry if this information stops the frothers dead in their tracks.

Quite a few news articles have had clues to suggest otherwise (I'm not going to track them down), yet many people state it as a certainty.

I've also paid the fee at the Land Registry for some properties this couple are involved with, and I don't see no Limited Company listed in the registry info.

Registered Owner(s) JUDITH ELIZABETH WILSON of

Thrugelmir

Harry_Powell wrote: »

Phew, what a lucky escape! You really had me on the ropes there with your superior intellect! :rotfl::rotfl::rotfl::rotfl:

Not difficult when faced with someone who spends their Saturday afternoon getting the first post on every single forum thread to get their name up in lights. (And then writes about it). Just because their playmate had the sense to go shopping with her friends.