Capital gains or not?

[amyha]

Hi
I am a sole trader and i sold by business for 10,000 which is basically less than the business was worth i wanted to walk away as was making losses do i note this as capital gain even though it was sold less than business was worth?

[bd6759]

What exactly did you sell, and why do you think it was worth more than that amount?

Did you sell it to someone you know for a reduced amount, or was that the best offer you got?

[amyha]

I basically sold my cake business and I took a reduced price to walk away.

[bd6759]

Yes, you said that in your first post.

What, exactly, did you sell? What was it worth?

We need to know because different aspects of the trade may be caught by different rules.