Good afternoon,
I wonder if the experts could help with some advice regarding CGT.
I decided to accept the offer of a UK company to sell them my oldest, best and biggest website, with domain, its content, positioning, traffic, reputation, goodwill etc. It's a solid business asset that generates income from advertising.
First time ever I sold a website as my main business is actually run online advertising campaigns. I don't have any other site on that very topic so I can say that I'm out of that sector. More generally, I am still active on other fields on my job so I'm not closing down.
I invoiced this +VAT as sale of assets, sale of monetised website used for business, including all i.e. also design, brand/logo, etc.
My question is, am I right if I think that this qualify as Capital Gain so taxed at 10/20%? And with Business Asset Disposal Relief I'll qualify for paying 10% on this gain? I am also thinking that I can't put any expense/cost against this gain, as I've already included it all in my self-assessments.
Many thanks for your help.
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