Hi,
Im a Ltd company director (100% shareholder)for over 10 years.
If i sell the company is there only 10% personal tax to pay?
The company is a trading company.
regards
Yearplanner
selling company
2 posts • Page 1 of 1
by hashman on Mon Jan 16, 2006 11:51 am
Effectively that would be the maximum rate after 75% taper relief (25% chargeable gain @ 40% higher rate tax = 10%). Of course you would also have your annual exemption of (currently) £8,500 to set against the gain as reduced by taper relief.
- hashman
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2 posts • Page 1 of 1
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