We are selling the business partnership which is home based, with no bricks and mortar. Just the name, goodwill, staff and clients. Can anyone confirm i have done the calculations in the correctly and in the right order.
Sale of business £29,950.00
less entrepreneurs relief £24,000.00 ie 2 partners at 12000 each.
10% CGT £595.00
Nett of Tax £29355.00
Less broker fee £4800.00
Less Solicitors fee £2000.00
Total tax & fees payable £7395.00
Amount due to partners after taxes and fees is £22,555.00
We have never sold a business before and wanted to make sure we have covered everything , thank you very much in advance.
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