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Dean Taberner

  • Posts: 4164
Buying a window cleaning business (domestic)
« on: May 26, 2012, 03:41:34 pm »
Hello,

I've just bought a domestic window cleaning business. Am I correct in thinking that there is no tax relief available on this?

I'm sure there isn't.

Thanks in advance,

Dean.
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Operations manager at J.V Price Ltd

http://www.thepricegroup.co.uk

landy2

  • Posts: 1195
Re: Buying a window cleaning business (domestic)
« Reply #1 on: May 26, 2012, 03:54:04 pm »
hello  you would be right  there is no tax relief  ithink its because there is no contracts just  word of mouth  8)
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Small but perfectley formed

  • Posts: 1744
Re: Buying a window cleaning business (domestic)
« Reply #2 on: May 26, 2012, 04:00:35 pm »
You will probably make more money on the domestics than retail subbing
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Spit and polish

Dean Taberner

  • Posts: 4164
Re: Buying a window cleaning business (domestic)
« Reply #3 on: May 26, 2012, 05:00:58 pm »
Quote from: Small but perfectley formed on May 26, 2012, 04:00:35 pm
You will probably make more money on the domestics than retail subbing

I don't do it for the money. :D
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Operations manager at J.V Price Ltd

http://www.thepricegroup.co.uk

Dean Taberner

  • Posts: 4164
Re: Buying a window cleaning business (domestic)
« Reply #4 on: May 26, 2012, 05:01:33 pm »
Quote from: landy2 on May 26, 2012, 03:54:04 pm
hello  you would be right  there is no tax relief  ithink its because there is no contracts just  word of mouth  8)

I thought so thank you.
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Operations manager at J.V Price Ltd

http://www.thepricegroup.co.uk

Roy Cauldery

  • Posts: 497
Re: Buying a window cleaning business (domestic)
« Reply #5 on: May 26, 2012, 05:24:38 pm »
do you like cleaning Dean? :)
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we succeed because others can't or won't

Dean Taberner

  • Posts: 4164
Re: Buying a window cleaning business (domestic)
« Reply #6 on: May 26, 2012, 05:31:54 pm »
Quote from: Roy Cauldery on May 26, 2012, 05:24:38 pm
do you like cleaning Dean? :)

Yes Roy, it really is my cup of tea.  ;D
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Operations manager at J.V Price Ltd

http://www.thepricegroup.co.uk

Roy Cauldery

  • Posts: 497
Re: Buying a window cleaning business (domestic)
« Reply #7 on: May 26, 2012, 05:34:27 pm »
no more weekends at the caravan then  ;)
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we succeed because others can't or won't

Dean Taberner

  • Posts: 4164
Re: Buying a window cleaning business (domestic)
« Reply #8 on: May 26, 2012, 05:38:01 pm »
Yes mate we still go down.

I've been working in nottingham this morning and didn't get back until the afternoon so it will have to wait until next weekend...when it will probably be raining.  :)
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Operations manager at J.V Price Ltd

http://www.thepricegroup.co.uk

Dave Willis

Re: Buying a window cleaning business (domestic)
« Reply #9 on: May 26, 2012, 05:42:06 pm »
I wouldn't buy a window cleaning round - too stressful.
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Roy Cauldery

  • Posts: 497
Re: Buying a window cleaning business (domestic)
« Reply #10 on: May 26, 2012, 05:42:24 pm »
and the england team will be on for a lost ratio of 2 for 2 for our erstwhile new manager
Its all a bit sh*t really
I hate cleaning me ;)
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we succeed because others can't or won't

Roy Cauldery

  • Posts: 497
Re: Buying a window cleaning business (domestic)
« Reply #11 on: May 26, 2012, 05:46:14 pm »
I prefer being on CIU.
I call it work when the lads ask but it beats cleaning
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we succeed because others can't or won't

Simon@ Clearview contractors

  • Posts: 755
Re: Buying a window cleaning business (domestic)
« Reply #12 on: May 26, 2012, 07:26:43 pm »
Quote from: Dean Taberner on May 26, 2012, 03:41:34 pm
Hello,

I've just bought a domestic window cleaning business. Am I correct in thinking that there is no tax relief available on this?

I'm sure there isn't.

Thanks in advance,

Dean.

Hi Dean, if by saying Tax relief you mean that the purchase of them are tax deductable then YES they are.

The rounds are classed as an Intangible asset.

Simon
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Rogue Trader

  • Posts: 1366
Re: Buying a window cleaning business (domestic)
« Reply #13 on: May 27, 2012, 12:42:29 pm »
Ask your accountant
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Rogue Trader

  • Posts: 1366
Re: Buying a window cleaning business (domestic)
« Reply #14 on: May 27, 2012, 01:04:09 pm »
when i bought one he said a portion of it can be tax deductable but not all of it.
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g.brookes

  • Posts: 950
Re: Buying a window cleaning business (domestic)
« Reply #15 on: May 27, 2012, 01:17:25 pm »
i wasn't sure but when i asked my accountant he said the full purchase was tax deductible because its a purchase for the business
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Dean Taberner

  • Posts: 4164
Re: Buying a window cleaning business (domestic)
« Reply #16 on: May 27, 2012, 01:36:11 pm »
Thanks for the advice,

Ill check it out tomorrow.

Dean.
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Operations manager at J.V Price Ltd

http://www.thepricegroup.co.uk

Mike55

  • Posts: 463
Re: Buying a window cleaning business (domestic)
« Reply #17 on: May 27, 2012, 03:03:26 pm »
Dean,

I have recently purchased a domestic round and was told by my accountant that it is not tax deductible due to the payment being 'goodwill'.

It appears that some accountants are saying one thing and others another.  Perhaps this is a grey area.

Cheers
Mike
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