Oh Well It is now up for grabs
Discussion
Hughesie2 said:
Is it "PRITTY" profitable ??
well I try my hardest not to make a proffit for tax reasons however its their again
and a bag full for the tax man 
Well a little better now since we went LTD, I made a payment to the tax man for 40k 
all because I went into the high bracket 
got rid of the accountant and went limited 
Its amazing the difference you can make with a new accountant. Ste..
Sorry never studded Englis If you've just become a limited company, you may want to get some advice from your accountant regarding the timing of the sale.
Currently, you can get 75% Tax relief on CGT. CGT is 40%, so 75% of 40 = 30, which means you only pay 10% Tax on the capital gain. However, to get full Tax relief you need to have owned those shares for 2 years or more.
I'm not entirely sure of the ruling from going to a partnership to a limited company, but if I were you I'd get my accountant to look into it. Simply ask him this question: If I were to sell my company tomorrow, would I be eligible for full (75%) business asset taper relief?
Currently, you can get 75% Tax relief on CGT. CGT is 40%, so 75% of 40 = 30, which means you only pay 10% Tax on the capital gain. However, to get full Tax relief you need to have owned those shares for 2 years or more.
I'm not entirely sure of the ruling from going to a partnership to a limited company, but if I were you I'd get my accountant to look into it. Simply ask him this question: If I were to sell my company tomorrow, would I be eligible for full (75%) business asset taper relief?
[quote=srebbe64]If you've just become a limited company, you may want to get some advice from your accountant regarding the timing of the sale.
Currently, you can get 75% Tax relief on CGT. CGT is 40%, so 75% of 40 = 30, which means you only pay 10% Tax on the capital gain. However, to get full Tax relief you need to have owned those shares for 2 years or more.
I'm not entirely sure of the ruling from going to a partnership to a limited company, but if I were you I'd get my accountant to look into it. Simply ask him this question: If I were to sell my company tomorrow, would I be eligible for full (75%) business asset taper relief?[/quote.
Thanks serebbe I aint gonna pay any tax........ worked it all out mate and aint comming back to the uk either..
Ste.......
Currently, you can get 75% Tax relief on CGT. CGT is 40%, so 75% of 40 = 30, which means you only pay 10% Tax on the capital gain. However, to get full Tax relief you need to have owned those shares for 2 years or more.
I'm not entirely sure of the ruling from going to a partnership to a limited company, but if I were you I'd get my accountant to look into it. Simply ask him this question: If I were to sell my company tomorrow, would I be eligible for full (75%) business asset taper relief?[/quote.
Thanks serebbe I aint gonna pay any tax........ worked it all out mate and aint comming back to the uk either..
Ste.......
insurance_jon said:
I take that means you don't need to be in my diary for your P/L quote anymore then? Best of luck mate you lucky sod!
Yes......
I think it will take a fair bit of time to sell and to get the right buyers. As I will not sell to anyone whome i deem not the right ones to take it over, as I employe good blokes and will make sure they will be ok, anyway need to keep the new owners happy
Ste..
SIR MP said:
You have a buyer for your business or you are about to advertise it for sale ?
What sort of business is it?
Try this www.knightsbridgeplc.com
sales corporate area WS.
Ste..
(Away from email and computor now for 3 weeks ..........)
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