Closing Ltd. Co. - Capital Gains?

[workshy fop]

I'm in the process of closing down a ltd. company. It has been suggested to me by a friends' accountant that I can use my CGT allowance to get some of the remaining money tax free.
Process would be, pay all coproration tax etc., close company leaving £15k in the bank.
Any monies left are payable to the shareholders (me!) and therefore I can use my CGT allowance, plus 2 years taper relief, so can get roughly £15k tax free. Any thoughts on this? My own accountant hasn't heard of this and I'm also not sure how I would show this on my personal tax form if it was the case.
Any views on this?

[srebbe64]

Interesting question - probably Eric's the man to answer.

I do know that if you sell the company that you can get 75% Tax relief on the capital gain, so you pay just 10% CGT - and this can include cash in the company, providing it's deemed not to be an investment company, but is a trading company.

[UpTheIron]

srebbe64 said:

Interesting question - probably Eric's the man to answer. I do know that if you sell the company that you can get 75% Tax relief on the capital gain, so you pay just 10% CGT - and this can include cash in the company, providing it's deemed not to be an investment company, but is a trading company.

Interesting - my accountant has previously told me that the best way to get funds out my company is to close it - and 10% tax was the figure he mentioned...