Hi there, nice to meet everyone! I hope everyone is well.
I wonder if someone might be able to point me to the relevant legislation, that might allow me to work out the correct answer to my question.
I have a client who has been considering to sell his limited company. He has paid quite a lot of money to Benchmark, who have done some marketing, then found potential investors... and then he decided it wasn't the right time, and he wanted to grow the business some more, and review in a couple of years.
Initially, I asked whether he intended to sell his shares, or, transfer the IP rights of the company. He said he assumed he would sell his shares, but he's not sure - presumably this would depend on the buyer.
I've not had to deal with this before, and I would like to review how to treat these costs - in the accounts, for VAT, and where the tax relief would arise. I had thought if the shares were being sold, that would be nothing to do with the company, so no VAT or CT relief. But with the uncertainty, I clearly need to review and understand this more.
Any guidance much appreciated, and thank you in advance for reading.
LB
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