CGT due on sale of Ltd company

[Oscarmac]

Good afternoon,

I'm looking to see if I can successfully complete my SA myself this year. I have very simple financial arrangements except for the disposal by entire share sale of a LTD company in Dec 2023 of which I was a director and held a 23% shareholding.

As the company was sold the previous accountants are no longer instructed and they don't return from holiday until 06/01/2025.

This was a family business and the shares were gifted to me in 1992 by my parents on joining the family firm.

Would I be right in thinking that I am liable for CGT on the whole amount of money received for the sale of the 23% given that the shares originally cost me nothing?

If it is more complicated I will instruct an accountant.

TIA

[Eric Mc]

Was it a trading company i.e running a bona fide business as opposed to an investment company (it's main income coming from investments such as rentals income, interest, dividends etc)?

[Oscarmac]

Eric Mc said:

Was it a trading company i.e running a bona fide business as opposed to an investment company (it's main income coming from investments such as rentals income, interest, dividends etc)?

Hi Eric trading company, pharmacy.

[MaxFromage]

The previous accountants should have the details of the gift and your base cost. You should also ask them to confirm your status during that period. Personally I'd get them to calculate the gain.

[Imasurv]

I recently sold my business and had a capital gain. Wouldn’t have entertained doing the SA myself, my accountant charged me £200.