Pete Miller (The Miller Partnership) answers a query on the possible effects of the new anti-avoidance rules on selling the business from a company.
Question
My client has operated her landscape gardening business through a company for over 30 years. She is now 65 years old and considering retirement. She has agreed to sell the business to a local competitor who wishes to buy the business out of the company as he does not want to buy the company with all of its commercial history. Our original plan had been for that sale to be made for the company to put aside sufficient cash to pay the corporation tax bill arising from the final period of trading and the disposal of the business and to liquidate the company distributing the proceeds to our client in due course. Our assumption...
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Pete Miller (The Miller Partnership) answers a query on the possible effects of the new anti-avoidance rules on selling the business from a company.
Question
My client has operated her landscape gardening business through a company for over 30 years. She is now 65 years old and considering retirement. She has agreed to sell the business to a local competitor who wishes to buy the business out of the company as he does not want to buy the company with all of its commercial history. Our original plan had been for that sale to be made for the company to put aside sufficient cash to pay the corporation tax bill arising from the final period of trading and the disposal of the business and to liquidate the company distributing the proceeds to our client in due course. Our assumption...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
