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  1. coastymike

    Income tax query

    tax always comes second to making a profit. concentrate on the business and making profits. then look at structuring. is a sole trader right or not ? is asset protection important ? depends on what you are doing and other asset held in your own name. trusts may be appropriate for a...
  2. coastymike

    Income tax query

    Wanttobewealthy The business expenditure isn't reducing any capital gain income. The business expenditure will reduce business income. That means a lower profit. That lower profit gets added to the capital gain. So a lower profit from increased business expenditure will mean lower overall...
  3. coastymike

    Income tax query

    CGT losses can only be offset against CGT profits. BUT business losses can be offset in certain circumstances against CGT profits. Think the question is being asked that they have a business profit and want to try to minimise the profit as much as possible as they also have a capital gain to...
  4. coastymike

    Income tax query

    The non commercial loss provisions will apply as a sole trader so you may or may not be able to apply any business loss to your other income. if a profit then don't need to consider the provisions. just make sure the gear you buy is done early as a lot of it will be subject to the...
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